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1. What role do open market operations play in the BoC's efforts? Do commercial banks (ie. TD Bank, RBC) have to oblige? Why or why

1. What role do open market operations play in the BoC's efforts? Do commercial banks (ie. TD Bank, RBC) have to oblige? Why or why not? 2. If the Bank of Canada adopts an expansionary/contractionary policy how does it impact the prospects for firm borrowing, capital investments, and sales? How does monetary policy affect your spending behaviour?

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