The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

The Bank of Canada’s governing council debates matters in private and then speaks with one voice. Dissenters from U.S. Fed policy often express their opinions publicly.
The Bank of Canada’s governing council debates matters in private and then speaks with one voice. Dissenters from U.S. Fed policy often express their opinions publicly.
(Sean Kilpatrick/THE CANADIAN PRESS)

BOC’s policy making should emerge from the shadows

There are times when it is easy to see that the United States and Canada are very different places. This is one of those times.

So great is the U.S. commitment to public scrutiny that Janet Yellen has already appeared on the cover of Time magazine, even though she doesn’t officially take over as Federal Reserve chairwoman until the beginning of next month. President Barack Obama has nominated three other Fed governors who will take up their new positions only after the Senate has voted on their readiness to serve.