Monetary policy in Canada is determined by
A)the Bank of Canada.
B)the Royal Canadian Mint.
C)the Prime Minister of Canada.
D)the Finance Minister.
E)the Bank of Montreal.

Question

Quizplus · Accepted Answer

Monetary policy in Canada is determined by the Bank of Canada, which is the country's central bank responsible for managing the country's money supply, interest rates, and inflation target. The Royal Canadian Mint produces coins for circulation, but do not have any role in determining monetary policy. The Prime Minister and the Finance Minister do not directly determine monetary policy, but may have influence through appointment of the Governor of the Bank of Canada and setting policy objectives. The Bank of Montreal is a commercial bank and does not have any role in determining monetary policy.

Monetary Policy in Canada Is Determined by