Bank of Canada

The Bank of Canada is Canada's central bank. It was founded in 1934 and began operations in 1935. Its principal role is to promote the economic and financial well-being of Canada. This is accomplished through several key functions:

• Monetary Policy: The Bank is responsible for conducting monetary policy to keep inflation low, stable, and predictable. It achieves this by influencing short-term interest rates, with the goal of keeping inflation at the 2 percent midpoint of a target range of 1 to 3 percent.
• Currency: The Bank designs, issues, and distributes Canada's bank notes.
• Financial System: The Bank promotes the stability and efficiency of Canada's financial system. This includes providing liquidity to financial institutions, overseeing payment clearing and settlement systems, and conducting research and analysis on financial system issues.
• Funds Management: The Bank acts as fiscal agent for the Government of Canada, managing the government's debt and foreign exchange reserves.

The Bank of Canada is governed by a Board of Directors, which includes the Governor, Senior Deputy Governor, and twelve independent directors appointed by the government. The Governor is the chief executive officer of the Bank and is responsible for monetary policy. The Bank is headquartered in Ottawa.