Since 1994, what was phased out as a tool used by the Bank of Canada to control the money supply?
A) changing reserve requirements
B) changing the overnight rate
C) open-market operations
D) foreign exchange market operations

Question

Quizplus · Accepted Answer

Since 1994, the Bank of Canada no longer uses reserve requirements to control the money supply. Reserve requirements refer to the amount of funds that banks must hold in reserve against their deposits. Instead, the Bank of Canada now uses tools such as changing the overnight rate and open-market operations to control the money supply.

Since 1994, What Was Phased Out as a Tool Used