How is responsibility for monetary policy set forth in Canada?
A)The Canadian Government administers monetary policy through the office of the Minister of Finance.
B)The Bank of Canada administers monetary policy as directed by the Minister of Finance.
C)The Bank of Canada Act places responsibility for the conduct of monetary policy on the Bank's Governing Council.
D)The Prime Minister bears ultimate responsibility for monetary policy.
E)Both B and D

Question

Quizplus · Accepted Answer

The Bank of Canada Act places responsibility for the conduct of monetary policy on the Bank's Governing Council. The Minister of Finance can provide direction to the Bank regarding monetary policy, but the ultimate responsibility for implementing monetary policy lies with the Governing Council.

How Is Responsibility for Monetary Policy Set Forth in Canada