The Bank of Canada is trying something new.
Tired of Bay Street’s grumbling that Governor Stephen Poloz’s approach to communications was difficult to understand, the central bank late last year decided to explain itself more often.
From now on, one of the institution’s leaders will speak within a day or two of every policy announcement, which wasn’t always the case in years past. The innovation should reduce the risk of financial-market volatility, as questions about the central bank’s thinking will be answered relatively quickly.
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