Chrystia Freeland finally offers plan to help Bank of Canada cover its losses

Chrystia Freeland finally offers plan to help Bank of Canada cover its losses

Chrystia Freeland finally offers plan to help Bank of Canada cover its losses Finance Minister Chrystia Freeland will amend the Bank of Canada Act to give the central bank the ability to retain earnings, a legislative tweak that should allow governor Tiff Macklem to manage losses from his aggressive bond-buying spree during the COVID-19 crisis. The Bank of Canada reported a loss of $522 million in the three months ended Sept. 30, 2022, the first time the institution had been …