Canadian Central bank

[annof]

Do you know who owns the Canadian Central bank? Is it goverment owned? , Does it sell shares to the public?

[bullish]

The Bank of Canada is the Canadian central bank and it's owned by the government of Canada. In the beginning (1934) the bank was established as a private corporation, and later in 1938 it became a special type of Crown Corporation. For more details follow the link below:

http://www.bank-banque-canada.ca/en/about/are.html

[Canadian]

The Bank of Canada doesn't sell shares to the public and also doesn't offer retail banking services like checking and savings accounts.

[Steven]

The Bank of Canada prints money at will, that's what it does, and printing money will always lead to inflation down the road.

[Canadian]

Originally Posted by Steven

The Bank of Canada prints money at will, that's what it does, and printing money will always lead to inflation down the road.

That's what all central banks do. This is the best way to rob savers legally. Inflation is known as the "silent tax" for a reason.

[bullish]

The Bank of Canada is responsible for keeping the Canadian financial system safe and also for controlling the money supply. When the economy is contracting they increase the money supply, trying to stimulate the economy. When the economy is expanding too fast they shrink the money supply, thus slowing economic growth.

[annof]

Thanks all for answering my question. So can we go without Central Bank? - I think not but I sense some of you will not agree.

[Richard]

The Bank of Canada sets policy, does economic analysis, manages day-to-day stuff. It's the finance version of Health Canada. They decide how much money to print, the Royal Canadian Mint actually prints the money. We need some sort of government-controlled, executive finance company. It's only one of a handful of crown corporations; CMHC is another crown corporation that deals specifically with mortgages rather than the economy as a whole.

Richard
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