IMF scolds Bank of Canada, should consider better communication of its monetary policy

The IMF with words of advice for the BOC. Reuters with the report, in summary:

• strengthening communications could include explanations on how quickly the BoC thinks the policy rate could return to neutral
• can also better communicate on how it views market expectations regarding the evolution of the policy rate

The Bank of Canada fobbed them off:

• “we certainly share the goal of transparency, and a commitment to look at ways for possible improvements”

More at that link above.

This article was written by Eamonn Sheridan at www.forexlive.com.