A Senate committee on Feb. 15 called for greater parliamentary oversight of the Bank of Canada and more transparency from the central bank as it battles to restore credibility lost during last year's fight to contain inflation
from critics, including opposition Conservative leader Pierre Poilievre, for misjudging inflation, which led to renewed calls for it to release minutes and be more open about its decision-making process.from the policy-setting meeting and concluded that the central bank hiked rates last month rather than leaving them unchanged because of labor market tightness and stronger-than-expected growth.
"The Bank of Canada should be more transparent and periodically make public its assessment of the effect of its interventions on inflation and on the evolution of key economic indicators," the Senate committee on banking, commerce and the economy said.
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