For each of the following misconceptions about the Bank, identify what is wrong with the statement and why.

a. The Bank of Canada lacks accountability because no one audits the Bank. There’s no way to know what really goes on behind the scenes.

b. The Bank of Canada just prints more money when the economy needs it and gives it to banks.

c. A government agency should not have so much control over the economy because politicians are always just going to do anything to win the next election.