Economics

Bank of Canada Starts Quantitative Easing With $1 Billion Bond Purchase

Bank of Canada Governor Stephen Poloz
Photographer: James Park/Bloomberg

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By Erik Hertzberg and Esteban Duarte

April 1, 2020 at 5:32 PM UTC

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The Bank of Canada began its first-ever foray into quantitative easing on Wednesday, with the purchase of C$1.0 billion ($703 million) in government bonds.

The central bank bought various amounts of five different bond series in the five-year range, with maturity dates ranging from Sept. 2023 to June 2025, according to results posted on the Bank of Canada’s website.