- Corra spread widened to 7 basis points above BoC target rate
- Rogers discussed funding strains with the Federal Reserve
Bank of Canada (BoC) governor Tiff Macklem said heightened demand for bonds is a cause of ongoing liquidity issues in the country’s funding markets, according to Bloomberg.
The Canadian Overnight Repo Rate Average, or Corra, has been stuck above the BoC’s overnight-rate target for weeks, spurring the central bank to intervene with a series of repo operations.