Here are the top reads on deals and financial services over the last 24 hours,
Liberals announce $1.1-billion COVID-19 package, signal more could come in March 30 budget: The Liberal government announced an economic package worth $1.1-billion Wednesday in response to COVID-19 and signalled more could come in the federal budget, which will be delivered on March 30. (Bill Curry)
Lower interest rates send mortgage market into a frenzy as buyers race to take advantage: Lower interest rates have sent the mortgage industry into a frenzy, as homeowners and buyers race to take advantage of cheaper loans. (Rachelle Younglai)
Bank of Canada’s move to hold rates steady last year is paying off with more room to cut now: This can’t have been the way Stephen Poloz thought he’d spend his last months as Governor of the Bank of Canada.
Energy experts warn of a long downturn amid oil price war: Energy experts are handing out tough-love advice for oil and gas industry executives sideswiped by falling commodity prices: Get used to it, this could be your reality for the next year. (Andrew Willis)
IN CASE YOU MISSED IT
BMO expects Bank of Canada to cut key interest rate to record low: The Bank of Canada will have to slash its key interest rate by another three-quarters of a percentage point in its next rate decision in mid-April, Bank of Montreal says, as plunging oil prices and mounting coronavirus fears prompt economists to rewrite their economic and rate forecasts. (David Parkinson)
Why now is a good opportunity to load up on Canadian bank stocks: The free-falling price of crude oil has walloped North American energy companies, and the Canadian banks that lend to them are being hit almost as hard. But the bank sell-off may be overdone, offering a good buying opportunity – and dividend yields that now average 5.7 per cent. (David Berman)
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