Bank of Canada

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Bank of Canada

The central bank of Canada. It is structured as a Crown Corporation, which is theoretically owned by the Queen of Canada but is in practice by the Canadian federal government. The Bank of Canada sets the monetary policy for Canada, especially by key interest rates. Lowering and raising interest rates is how the Bank of Canada controls the amount of money in the economy. The Bank's goal in doing this is to keep inflation between 1% and 3% annually in order to promote sustainable growth. It is governed by the Board of Directors of the Bank of Canada and a Governor who is appointed by the Board.
References in periodicals archive ?
The central bank of Canada is said to be considering changes to the foreign exchange rates that it posts.
Mark Carney, the head of the central bank of Canada, has said that central banks have a limited role in ensuring growth.
Mark Carney, governor of the central bank of Canada, has said that tougher regulations alone cannot bring back trust in the banking systems.
Tiff Macklem is tipped to be the next chief of the central bank of Canada, once the present head, Mark Carney, leaves to take over the role of head of the Bank of England.
The central bank of Canada has indicated that it could increase its rates.
Global Banking News-April 5, 2012--Governor of central bank of Canada
As governor of the Central Bank of Canada, he was the first to cut interest rates and maintain them at unprecedented low levels for a definite time.
In an unexpected move, the UK's chancellor of the exchequer, George Osborne, announced to parliament the appointment of Mark Carney, who currently heads the central bank of Canada, as the next Bank of England governor.

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