A Senate committee on Wednesday called for greater parliamentary oversight of the Bank of Canada and more transparency from the central bank as it battles to…
The Bank of Canada has come under a rare attack from critics, including opposition Conservative leader Pierre Poilievre, for misjudging inflation, which led to renewed calls for it to release minutes and be more open about its decision-making process.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“The Bank of Canada should be more transparent and periodically make public its assessment of the effect of its interventions on inflation and on the evolution of key economic indicators,” the Senate committee on banking, commerce and the economy said. In a report published on Wednesday, the Senate committee said the tightening of monetary policy was justified, while noting that rising interest rates had begun to slow economic growth and could worsen housing issues.On Jan. 25, the Bank of Canada hiked its key interest rate to 4.5%, the highest level in 15 years, and became the first major central bank to say it would likely hold off on further increases for now.
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Canadian Senate calls for Bank of Canada to be more transparentA Senate committee on Wednesday called for greater parliamentary oversight of the Bank of Canada and more transparency from the central bank as it battles to…
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Senate calls for more transparency from Bank of CanadaSenate committee on banking, commerce and the economy published a report looking at the state of the economy, suggesting parliamentarians spend more time looking at monetary policy issues
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Senate calls for Bank of Canada to be more transparentA Senate committee called for greater parliamentary oversight of the Bank of Canada and more transparency from the central bank.
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Senate calls for Bank of Canada to be more transparentA Senate committee called for greater parliamentary oversight of the Bank of Canada and more transparency from the central bank.
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