OTTAWA — The Bank of Canada has named three experts that will assess its internal review of the central bank's policy response to the COVID-19 pandemic.
OTTAWA — The Bank of Canada has named three experts that will assess its internal review of the central bank's policy response to the COVID-19 pandemic.
"The diverse perspectives of these experts will help us draw the right lessons from this unprecedented crisis. This is critical to ensuring the bank delivers the best policy for Canadians, whatever lies ahead," he said.Bank of Canada deputy governor Sharon Kozicki announced in June that the central bank would undertake a review aimed at laying out lessons learned from the bank's actions.
Two years after the onset of the pandemic, the Bank of Canada began raising interest rates in March 2022 to combat rising inflation, and began quantitative tightening the month after that. Many economists say the Bank of Canada's swift response in March 2020 allowed the Canadian economy to avoid an even deeper recession.Meanwhile, others have criticized its quantitative easing program as well as its aggressive hiking campaign in response to rising inflation.
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