Bank of Canada should mull better communication on monetary policy, says IMF

should consider better communication of its monetary policy intentions, building on the steps it has already taken to improve the transparency of messages it sends to the market, the IMF said on Tuesday.

The BoC can also better communicate on how it views market expectations regarding the evolution of the policy rate, the lender said. From early last year, the Bank of Canada took a historic step toward transparency by agreeing to release minutes from its policy-setting meeting in efforts to restore credibility lost during its fight to contain inflation.

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