The Bank of Canada (BoC) is a Crown corporation and Canada's central bank. Chartered in 1934 under the Bank of Canada Act, it is responsible for formulating Canada's monetary policy and for the promotion of a safe and sound financial system within Canada. It is headquartered in Ottawa, Ontario, and it maintains a representative office in New York. Following Covid-19, critics have argued that BoC’s inflation-targeting has had unintended consequences, such as fueling an increase in home prices and contributing to wealth inequalities by supporting higher equity values.
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"To promote the economic and financial welfare of Canada.” (Central Bank)