Canadian Economy

Canadian Economy

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  • Oh, I see... What about the role of the Bank of Canada in our economic system?
  • Cafe
  • The main function of a central bank is to control the nation’s monetary supply through active duties such as managing interest rates, setting the reserve requirements, etc..
  • OK?... Then, how does it, along with other banking institutions determine interest rates? How does this affect purchasing and investments?
  • Banking institutions are free to determine interest rates but they have to keep in mind the competition and the average consumer interest demand. With the competition in place this will help consumers get the best price for their money.
  • Cafe
  • Anytime lad! Glad that I was able to answer your questions.
  • Thanks a lot mister financial adviser! Now I'm ready for the next Canadian Economics Test!
  • Cafe
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