The art of monetary policymaking

Whether an explicit broadening of the BoC's mandate is needed is far from clear, but current circumstances support the need for flexibility in monetary policy frameworks.

While monetary policy benefits from a plurality of views, comments from politicians are unhelpful as the appearance of political meddling can undermine the Bank of Canada’s credibility and effectiveness, writes Charles St-Arnaud.The Hill Times photograph by Andrew Meade

Opinion

BY CHARLES ST-ARNAUD

May 1, 2024

Under normal circumstances, the framework surrounding monetary policy and how the Bank of Canada (BoC) makes its decisions attracts little attention, with the general public more concerned about when interest rates will change than how the decision is made. However, the surg...

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