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Decentralized Democracy

Senate Bill

Bill S-275

44th Parl. 1st Sess.
April 11, 2024
Balancing the Bank of Canada’s Independence and Accountability Act
  • This bill, called the Balancing the Bank of Canada's Independence and Accountability Act, aims to make changes to the Bank of Canada Act. The changes include clarifying the Bank's mandate, defining the objectives of monetary policy, and establishing a monetary policy committee. The committee will be responsible for setting the monetary policy of Canada. The bill also includes assessment and transparency requirements and calls for an agreement between the Bank and the Government of Canada regarding monetary policy. The goal of these changes is to better balance the Bank's independence with its accountability to Canadians.
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