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Bank of Canada Deputy governor Toni Gravelle says even if the bank has a large balance sheet, it does not preclude it from heading off future challenges. Earlier, when asked about business debt, Bank of Canada (BoC) Deputy Governor Toni Gravelle said he hopes higher debt level will help businesses recover quickly and be able to repay debt incurred.

Market reaction

These comments had little to no impact on the CAD’s performance. The loonie has been gathering pace of late but has stalled vs the dollar today following a 2.7% drop from the prior bearish impulse.