The Globe and Mail
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Bank of Canada officials are getting increasingly testy at suggestions the central bank is enabling a spending spree in Ottawa by vacuuming up federal debt to the tune of $4-billion a week.
Governor Tiff Macklem and other central bank executives have used recent public appearances to refute charges that the bank’s quantitative easing (QE) program, which technically aims to lower long-term interest rates, is doing double duty by facilitating a near doubling of federal spending as Ottawa opens the floodgates to support the economy through the pandemic.