Bank of Canada Boosts Repo Operations to Tame Rising Corra Rates

The Bank of Canada has increased the size of its two-week repo operations to reduce upward pressure on Corra, the Canadian Overnight Repo Rate Average.

This move is part of the central bank's efforts to address the rising Corra rates, which have been influenced by factors such as market volatility and changes in investor behavior.

Toni Gravelle, Deputy Governor at the Bank of Canada, explained that the central bank aims to ease this upward pressure through regular increases in its two-week repo operations.