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As stated by the Canadian Federation for Independent Business also known as CFIB, Ottawa’s 27 billion dollar funding, for businesses and workers, is a wise move; but, it might not be enough to help Canada’s businessmen in the midst of the coronavirus pandemic.
Dan Kelly, the president of CFIB, focused on a new wage grant submitted by Prime Minister Justin Trudeau and Bill Morneau, Finance Minister, that would give businesses up to 10% of employee’s pay for a period of 3 months. Companies would be able to receive a maximum amount of $1,375 in every employee with a total amount of about $25,000 in every employer.
He said …

The Bank of Canada decided to make a sudden cut in the rates, reducing the central bank’s standard interest rate of 50 points to 0.75%.
The central bank itself already made a cut to its rate to 1.25% at a March 4 meeting to help prevent the impact of COVID-19.
Under usual situations, the bank sets its interest rate every six weeks and only makes an emergency action when there’s a need to do so based on a situation.
The next scheduled decision of the bank’s rate is set on the 15th of April. The bank states that it will give the full information of its viewpoint for Canada’s economy as well as the …