An inside look at how the Bank of Canada makes its interest rate decisions

In an effort to give the public a better understanding of how it makes its policy rate decisions, the Bank of Canada is giving an inside look into the process. In a speech before the Sherbrooke Chamber of Commerce on Thursday, Bank of Canada deputy governor Nicolas Vincent laid out the steps the central bank goes through before reaching a decision. "We are fully conscious of the responsibilities the bank has toward all Canadians," Vincent said. "To maintain the public's trust, we must be rigorous, professional, humble, honest and transparent." Here's a breakdown of the process, according to Vincent's speech. Read More