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The Bank of Canada is Canada's central bank. The bank's headquarters are located in Ottawa. They are not fully independent of government intervention. The Minister of Finance can issue written instructions to the bank to change its policies.
The Bank of Canada has a defined objective of low and stable inflation, a safe and secure currency, financial stability, and the efficient management of government funds and public debt. However, it is known that they have an internal target for inflation of 1-3%. Inflation is not something any central bank can fully control. They can, however, dampen its effect.
By attempting to control rising inflation by raising interest rates, central banks will cause unemployment to rise and business activity to decline.
View Bank of Canadia press releases.
View Bank of Canada scheduled meeting dates (interest rate announcements).