In the opening statement before the Senate National Finance Committee, the Bank of Canada governor Stephen Poloz says “if further monetary stimulus is required to meet our inflation targets, the bank has tools available to deliver that stimulus.” Poloz, speaking to the Senate’s finance committee, also reiterated the central bank was prepared to increase the size of special programs it has introduced to support the smooth functioning of financial markets. Key comments Says there is considerable uncertainty about the future course of the coronavirus pandemic. Reiterates that bank is prepared to augment the scale of any of its programs if needed to support market functioning. Reduction in bank’s policy rate is entirely consistent with the inflation-targeting agreement under which we operate. Lowering our policy rate to the effective lower bound is the best contribution we can make at this time to complement the government’s fiscal efforts. USD/CAD update On the whole, the CAD seems to be in a less precarious position now that oil is stabilising. However, there are plenty of risks out there which could take down the black gold once again. USD/CAD breaks critical monthly support, eyes on geopolitics FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Trump says will hear about US actions on China by the end of the week FX Street 3 years In the opening statement before the Senate National Finance Committee, the Bank of Canada governor Stephen Poloz says "if further monetary stimulus is required to meet our inflation targets, the bank has tools available to deliver that stimulus." Poloz, speaking to the Senate's finance committee, also reiterated the central bank was prepared to increase the size of special programs it has introduced to support the smooth functioning of financial markets. Key comments Says there is considerable uncertainty about the future course of the coronavirus pandemic. Reiterates that bank is prepared to augment the scale of any of its programs if… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.