Canadian FinMin Morneau: Now prepared to use its fiscal firepower

Dhwani Mehta FXStreet

Canadian Finance Minister Morneau is on the wires now, via Reuters, noting that they are now prepared to use its fiscal firepower to battle the coronavirus impact on the economy.

Further comments

Impact of coronavirus in Canada is profound.

1st phase of response is $C27B in direct spending.

Measures announced today our 1st phase of government's plan.

Export development Canada is working on specific tools for airline and energy sectors.

When the time is right we will announce more long-term investments.

Spoke to two airline CEOs on Tuesday evening, working to bridge difficult period for affected industries.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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