High interest rates and The Bank of Canada, explained

With inflation still stubbornly high, it seems like interest rates could remain elevated for quite some time. And the stress of that has some Canadians wondering who gets to make these big economic decisions.

Report on Business columnist David Parkinson explains the relationship between the Bank of Canada and the federal government, how interest rates are set and what changes might be worth considering when it comes to changing how Canada’s central bank works.

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