The central bank says it will establish three new lending facilities as well
The goal is to ensure states and cities can borrow at low cost
The single biggest item is deferring tax payments until August, accounting for an estimated $55 billion
Canada's economy is expected to contract in the second and third quarters
The ECB decided to buy up to 120 billion euros more in bonds this year
The federal budget date was also announced
The government is looking to help keep Canada's health-care system healthy
Morneau says the government will increase its risk adjustment provision in the federal budget