Kevin Carmichael: As primary actors in a troubled economy, they are no longer above the fray
The Bank of Canada reviews the way it sets interest rates every five years. It then takes its findings to the Finance Department and the two work out whether any tweaks are warranted.
Changes are rarely made, as the search for a better method than targeting inflation has been akin to the quest for extraterrestrial life: it’s out there in theory, but the PhDs have yet to prove it in real life.
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