Bank of Canada Must Be Transparent to Maintain Trust, External Deputy Governor Says

Bank of Canada Must Be Transparent to Maintain Trust, External Deputy Governor Says
A sign at the Bank of Canada building is seen in Ottawa on July 24, 2024. The Canadian Press/Justin Tang
The Canadian Press
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A senior Bank of Canada official says the central bank must be rigorous and transparent in order to maintain the public’s trust.

In a speech in Sherbrooke, Que., explaining the bank’s rate-setting process, Nicolas Vincent, the bank’s external deputy governor and a professor at HEC Montreal, said communicating how interest rate decisions are reached is almost as important as the decision process itself.