November 19, 2019
The Bank of Canada’s current mandate should not be expanded to include financial stability, says a new report from the C.D. Howe Institute.
In “The Bank of Canada and Financial Stability: A New Mandate?,” authors Michael D. Bordo and Pierre L. Siklos marshal historical and empirical evidence to make the case that the Bank of Canada should not confuse the public by adding the burden of meeting a goal—financial stability—it cannot reasonably achieve on its own.
