Central Bank Independence: A Canadian Contrast

realclearmarkets.com - 08-19

0MdLNTNr

Whether central banks are or should be or could be “independent” of the rest of the government is a key question in political economics and political finance. Given the great power of the unelected managers of central banks in a fiat currency system, the potentially huge costs of their mistakes, and their obvious ability to move markets, it is a question of substantial magnitude.