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To: Proud Deplorable who wrote (112991)4/29/2008 12:03:09 PM
From: Rocket Red  Respond to of 312960
 
profits and there is not many in this market



To: Proud Deplorable who wrote (112991)4/29/2008 12:04:42 PM
From: Rocket Red  Read Replies (1) | Respond to of 312960
 
Bank of Canada pumps more into financial system

Tuesday, April 29, 2008

OTTAWA — In an effort to ease tight credit conditions in the country's financial system, the Bank of Canada said Tuesday that it was pouring in another $2-billion.

The central bank said the 28-day purchase and resale agreement was part of its “continuing provision of liquidity in support of the efficient functioning of financial markets.”

It's the fourth such cash injection since December, and brings the total to $12-billion.

The new rollover was not unexpected but indicates the bank's view that coming by credit remains too difficult in Canada.

The bank said the case for further such operations will be reviewed in light of conditions in financial markets.

© Copyright The Globe and Mail