TORONTO (Reuters) - How closely linked monetary policy in Canada is to that of its neighbor to the south will depend on how the economies of both countries evolve, the Bank of Canada’s Senior Deputy Governor Carolyn Wilkins said on Monday.
“One of the things we’ve emphasized is we have our own policy regime,” Wilkins said in a question-and-answer session following a speech in Toronto.
“Naturally, what’s going to happen if your economies are somewhat correlated, your performance is correlated, that your monetary policy could be correlated. At the same time, there’s been a lot of examples in history, and even recent history, where that’s not the case.”
Asked about if there was a specific value for the Canadian dollar that the central bank was comfortable with, Wilkins said the bank is “happy with whatever markets come up with.”
Reporting by Alastair Sharp, writing by Leah Schnurr