Canada pumps Can$200 bn liquidity, economy estimated to tank 5% in 2020

Canadian Prime Minister Justin Trudeau on Friday announced a series of measures to boost the country's economy and almost doubled the amount of aid pledged just two days ago to more than Can$200 billion.

The measures include a 75 percent wage subsidy for small and medium business employees affected by the coronavirus crisis, and a series of grants, tax deferrals, lines of credit and low-interest loans to Canadian businesses.

They followed an announcement that the Bank of Canada is lowering a key interest rate to 0.25 percent as part of a drive to cushion the impact of the coronavirus pandemic.

The aid package