Bank of Canada

Definition - What does Bank of Canada mean?

The Bank of Canada is the central bank for, you guessed it, Canada. The Bank of Canada controls the lending rates between banks, the issuance of currency and publishes economic reports of interest to currency traders.

ForexDictionary explains Bank of Canada

The Bank of Canada is much less interventionist in the currency market than other central banks. It shares this hands-off approach to monetary policy with Australia, and this is not a coincidence. Commodities arguably underlie both the CAD and the AUD, so the currencies tend to follow commodity prices rather than react to central bank policies.

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