The Bank of Canada’s trend-setting interest rate shouldn’t be responsible for shoring up the country’s financial system, said Deputy Bank Governor Timothy Lane in a speech delivered today. In that speech, he asks: “Should a central bank’s decisions on monetary policy account for the stability of the financial system? If so, how? We at the Bank of Canada are grappling with […]
The Canadian dollar plunged Wednesday to a post-recession low after the Bank of Canada cut its key interest rate and lowered its economic forecast.