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Please read the press release - https://www.bankofcanada.ca/2022/03/fad-press-release-2022-03-02/

Bank of Canada increases policy interest rate

March 2, 2022

The Bank of Canada today increased its target for the overnight rate to %, with the Bank Rate at % and the deposit rate at %. The Bank is continuing its reinvestment phase, keeping its overall holdings of Government of Canada bonds on its balance sheet roughly constant until such time as it becomes appropriate to allow the size of its balance sheet to decline.

Question -

1. Evaluate the effectiveness of monetary policy and actions to combat inflation, along with implications on economic growth and unemployment.

2. Post your conclusions