The main purpose of the Bank of Canada is to
A) set prime interest rates.
B) assist in the merger of troubled banks with healthier institutions.
C) bail out banks like the Northland and CCB.
D) deregulate the banking industry.
E) control the nation's money supply.

Question

Quizplus · Accepted Answer

The main purpose of the Bank of Canada is to control the nation's money supply, which includes setting interest rates and managing inflation. The other options listed are not within the mandate of the Bank of Canada.

The Main Purpose of the Bank of Canada Is to