The question was in French, and there was a simultaneous translation, but Finance Minister Bill Morneau made a point of answering in both official languages. That’s because they mostly speak English on Bay Street.
“We see the independence of the Bank of Canada as critical,” he said at a press conference he organized on May 1 to announce he had chosen Tiff Macklem as the central bank’s next leader. “It’s something that has enabled our economy to be successful over previous decades.”
It was good the minister did that, and it was helpful that Macklem subtly stated he was no one’s puppet. “I’m confident the government will respect our independence in order to meet the targets that we set out jointly,” he said. This is where accountability starts.
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