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For this week class, we dove into the Bank of Canada and how it really matters in Canada's money game. It's like the main bank
For this week class, we dove into the Bank of Canada and how it really matters in Canada's money game. It's like the main bank for all the other banks in the country, and it's the big shot that decides who gets the money. What's interesting is how it's set up differently compared to other parts of the Canadian government. Instead of one big boss, there's a group of decision-makers called the board of directors. They work together to avoid giving too much power to just one person. Even though the top dog is the governor, the board makes decisions as a team, especially when it comes to deciding how much money should be out there based on how the country is doing. Picking the governor is a big deal too. It's not just about knowing stuff; the person needs to be good at lots of things like money and how the economy works. It's a smart approach to make sure things stay steady and work out well for Canadians
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