National

Bank of Canada names experts to assess its internal review of pandemic policy actions

Darpan News Desk The Canadian Press, 08 Aug, 2024 09:56 AM

The Bank of Canada has named three experts that will assess its internal review of the central bank's policy response to the COVID-19 pandemic.

The experts are Pablo Hernández de Cos, former governor of the Bank of Spain, Kristin J. Forbes, a former member of the Bank of England's monetary policy committee and Trevor Tombe, an economics professor at the University of Calgary.

Bank of Canada deputy governor Sharon Kozicki announced in June that the central bank would undertake a review aimed at laying out lessons learned from the bank's actions.

In March 2020, the Bank of Canada cut its key interest rate to near-zero in response to the economic shutdown caused by the COVID-19 pandemic and signalled that rates would stay exceptionally low for a long time.

It also launched its first quantitative easing program, which involved buying government bonds to drive interest rates even lower.

The Bank of Canada says the internal review and external assessment will be published toward the end of the year.

Prev Next

MORE National ARTICLES

Knife attack in Nanaimo by a man wearing a bra on his head

R-C-M-P say the attacker swung the knives at the man, attempting to stab him, but the large dog lunged and bit him before the dog's owner used his martial arts training to incapacitate the other man and take control of the knives.

Knife attack in Nanaimo by a man wearing a bra on his head

Fatal shooting in Winnipeg followed soccer game, police say it was not random

Winnipeg police are investigating a shooting in the parking lot of a soccer complex that left a 22-year-old man dead. Police say they were called to the scene late Saturday night, after the final game of the Canada African Cup of Nations soccer tournament, and found a man with gunshot wounds.

Fatal shooting in Winnipeg followed soccer game, police say it was not random

Highway improvements coming to B.C. northwest, including better Wi-Fi access

The B.C. and federal governments are jointly providing $195 million for a series of highway improvements in Tahltan Nation territory in the province's northwest. A statement from B.C.'s Ministry of Energy, Mines and Low Carbon Innovation says the funding will enhance road safety, while improving access to services for local communities and for development of critical minerals.

Highway improvements coming to B.C. northwest, including better Wi-Fi access

Single-use plastic bags banned as next round of B.C. plastic regulations kicks in

Plastic shopping bags and other single-use products are no longer available at British Columbia stores as the government implements the latest step in its plan to phaseout certain plastic items and keep harmful chemicals out of landfills. Businesses may no longer provide single-use plastic shopping bags, and they must charge a minimum of $2 for new reusable bags or 25 cents for new paper bags.

Single-use plastic bags banned as next round of B.C. plastic regulations kicks in

Storms and wind moving in for part of B.C., boosting fire potential: wildfire service

Thunderstorms will be rolling into eastern B.C. by mid-week and winds will pick up, which the BC Wildfire Service says has the potential to increase fire activity in the province. The service says the hot and dry trend that has already led to increased fire activity will continue throughout the southern half of B.C.

Storms and wind moving in for part of B.C., boosting fire potential: wildfire service

Trucker who caused Broncos crash applies to have permanent resident status returned

The truck driver who caused the deadly Humboldt Broncos bus crash has applied to have his permanent resident status returned. The Immigration and Refugee Board issued a deportation order in May for Jaskirat Singh Sidhu and his permanent resident status was revoked.