Decisive actions in difficult times

The Bank acted swiftly to support households and companies

In times of crisis, when incomes drop, people and businesses need access to credit to get them through. When the economy shut down in March, markets seized up and we saw a lack of cash—or liquidity—in the system. The Bank stepped in to keep markets functioning in two ways:

• We made it easier for financial institutions to access funds so they have more credit available for borrowers.
• We are buying up bonds and other debt, which frees up cash that companies and governments can put toward paying salaries and providing emergency benefits.

As a result of these actions, market functioning has improved. Banks have credit to lend, and people and companies can access the funds they need to cover day-to-day expenses.