When it was established in 1935,the Bank of Canada was granted the authority to:

Question

Quizplus · Accepted Answer

When it was established in 1935, the Bank of Canada was given the authority to conduct monetary policy, which includes setting interest rates, controlling money supply, and regulating credit conditions in the economy. The bank's mandate is to keep inflation low, stable, and predictable, which it achieves through various monetary policy tools and instruments. The bank does not manage the finances of provincial governments, prepare the federal budget, or accept deposits from the public.

When It Was Established in 1935,the Bank of Canada Was