BoC's Poloz: Coronavirus pandemic remains a massive economic and financial challenge

"I am confident that a strong financial system will help Canada emerge from this episode in relatively good shape," Bank of Canada Governor Poloz said on Thursday. 

Additional takeaways

"Coronavirus pandemic remains a massive economic and financial challenge and it will leave higher levels of debt in its wake."

"Considerable uncertainty remains about the future course of the pandemic and its economic consequences."

"The bank will continue to do what is necessary to keep core financial markets working."

Market reaction

The USD/CAD pair edged lower on these comments and turned flat on the day near 1.4100.