Canadian PM Trudeau: Will provide up to C$27 billion to help Canadians and businesses
"Canada will provide $27 billion CAD to help Canadians and businesses," Canadian Prime Minister Trudeau announced on Wednesday and added that they will create $55 billion CAD to meet liquidity needs of business and households through tax deferrals.
"We will provide temporary wage subsidy for up to 3 months to allow businesses to keep workers on the payroll," Trudeau further noted. "Canadians will have until August 2020 to pay taxes."
These remarks failed to help the CAD find demand and the USD/CAD pair was last seen trading at 1.4460, adding 1.85% on the day.