BoC's Wilkins: Not planning to increase size of corporate bond purchase program

When asked if the BoC is planning an increase in the size of its corporate bond purchase program, "this is not part of our design right now," BoC Senior Deputy Governor Carolyn Wilkins said. "As restrictions are gradually lifted, the housing market should spring back to shape, it's hard to predict how quickly," Wilkins further added.

Meanwhile, Governor Poloz said that the BoC's best-case coronavirus scenario was still within reach. "If there were to be a second wave of economic fallout, we would need another scenario," Poloz noted. "We are headed for a different kind of normal where there would be a reasonable return to economic activity in the third quarter.

Market reaction

The USD/CAD pair edged slightly lower and was last seen posting small daily losses at 1.4095.