What is the reason behind the seven-year appointment for the governor of Bank of Canada?
A)It makes the system compatible with the ones in other countries.
B)It confers stability to the financial system.
C)It allows the governor to become better in doing his or her job.
D)It insulates the governor from political pressure.

Question

Quizplus · Accepted Answer

The seven-year appointment for the governor of Bank of Canada is intended to insulate the governor from political pressure, as it ensures that the governor's term will span multiple election cycles and not coincide too closely with the electoral calendar. This allows the governor to make decisions based on economic considerations rather than political considerations.

What Is the Reason Behind the Seven-Year Appointment for the Governor