13 November 2009
About two weeks ago, on October 27, I asked a question about the Canadian dollar to Bank of Canada governor Mark Carney who was appearing before the Standing Committee on Finance.
Over the past few weeks, Mr. Carney has stated several times that he would intervene to push down the dollar if it gets too high compared to the US dollar.
As you will see in the following excerpt, he agrees with me that there are advantages as well as disadvantages to having a strong currency. But his answer raises an interesting point about the way the Bank of Canada conducts its policy.