Banks followed the Bank of Canada, which cut its overnight rate again on Friday
The unscheduled cut is the second this month
The potential measure is in response to the pandemic
“The public demands fast action,” said the central bank’s new governor
The cut is the second in two weeks
The announcement came alongside measures announced by the federal government
Kendra Kaake has learned that understanding investor behaviour is as important as knowing the numbers
Investors accept default risk on bonds that pay less than nothing
Downside risks to the economy outweighed the risk of increasing household debt
The central bank called Covid-19 "a material negative shock'' to the country's economic outlook