the finance minister has ultimate legal authority to set interest rates, not the governor.

something else i'd like to know is whether that proposed infrastructure bank is meant to be printing money from the bank of canada. if so, that's a big difference in terms of what rates are, and opens up the ability for the government to raise rates without putting themselves in too much debt.

www.cbc.ca/news/politics/canada-election-2015-economy-debate-central-bank-1.3232927

IKEA Monkey
The Gov't of Canada has never interfered with the Bank of Canada's monetary policy in it's entire history.

Jessica Murray
that's ambiguous. there were some issues in the 60s.

my understanding is that there's a consultation process that has, up to this point, broadly resulted in consensus decision making.

but, legally, the finance minister has the authority. it's not independent like it is in the united states - or designed to be, either.