The Bank of Canada's monetary policy instrument is _______.

A monetary policy instrument is _______.

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Part 1

A.

overnight loans rate;

a variable that the Bank of Canada can directly control or closely target

B.

the monetary base;

a variable that the Bank of Canada can directly control or closely target

C.

the overnight loans rate;

a variable that the Bank of Canada can influence but not directly control

D.

the exchange rate;

a variable that the Bank of Canada can influence but not directly control