Central bank independence must remain a priority

Politicians have many competing priorities, and may not always place a high enough importance on low and stable inflation.

Then-finance minister Bill Morneau, left, and then-Bank of Canada governor Stephen Poloz arrive at a press conference in Ottawa on March 27, 2020. The symbolism of the central bank governor and federal finance minister appearing together may have inadvertently politicized the Bank of Canada, write Michael Burt and Pedro Antunes. The Hill Times photograph by Andrew Meade

Opinion

BY MICHAEL BURT, PEDRO ANTUNES

May 1, 2024

On March 27, 2020, then-Bank of Canada governor Stephen Poloz and then-finance minister Bill Morneau jointly addressed the nation, holding hands (figuratively), pledging to combat the economic fallout of the pandemic through co-ordinated fiscal and monetary policies.

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