The Bank of Canada should consider better communication of its monetary policy intentions, building on the steps it has already taken to improve the...
OTTAWA - The Bank of Canada should consider better communication of its monetary policy intentions, building on the steps it has already taken to improve the transparency of messages it sends to the market, the IMF said on Tuesday.
From early last year, the Bank of Canada took a historic step towards transparency by agreeing to release minutes from its policy-setting meeting in efforts to restore credibility lost during its fight to contain inflation. The IMF said steps to strengthen communication "could help markets better understand how the BoC reacts to new data".
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