Central Banks
Bank of Canada Vows More Transparency After Pressure From IMF
- Central bank to begin publishing summaries of deliberations
- First will be produced about two weeks after Jan. 25 decision
A reporter does a television hit outside the Bank of Canada in Ottawa after its July 13 policy decision.
Photographer: David Kawai/BloombergThis article is for subscribers only.
The Bank of Canada will begin publishing a minutes-like summary of deliberations by officials after each policy decision in an effort to enhance transparency as it faces one of the most severe tests of its credibility.
The move comes in response to a review by the International Monetary Fund, released on Wednesday, of the central bank’s transparency practices. The Bank of Canada said it will produce summaries roughly two weeks after each policy meeting, starting with the Jan. 25 decision.