Personal incomes also fell sharply last month
Some economists hold out hope for a quick and robust recovery once the health crisis is solved
The rating agency's downside scenario for the global economy would impact a wide swath of ratings
StatsCan estimates suggest the Canadian economy pulled back 9% in March
The program will also provide three-year loans, up from the two-year loans the Fed previously announced
Banks' balance sheets growing rapidly as Covid-19 response ramps up
The March decline is the second-biggest decline on record
In March, sales were down more than 15%
Students to receive monthly payments of $1,250 through August
The slowdown in Canada was bigger than those experienced in the U.S. and U.K.