The main function of the Bank of Canada is to manage monetary policy; a second function is to raise funds on behalf of the federal government.

Question

Quizplus · Accepted Answer

The Bank of Canada's main function is indeed to manage monetary policy, which involves controlling inflation, regulating interest rates, and promoting financial stability. However, it does not raise funds on behalf of the government. That responsibility falls to the Department of Finance through issuing bonds and other debt instruments.

The Main Function of the Bank of Canada Is to Manage