A complete guide to the Bank of Canada and interest rates
Rebecca Cattlin
April 21, 2021 3:20 PM
As with any central bank, when the Bank of Canada (BOC) changes interest rates, it can have a knock-on effect to stocks, indices and currencies. Find out everything you need to know about the BOC and how it’s decisions impact financial markets.
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What is the Bank of Canada?
The Bank of Canada is Canada’s central bank, which was created to promote the economic and financial welfare of the country. The BOC is responsible for preserving the value of the Canadian dollar and keeping inflation low through monetary policies, printing money and setting interest rates.