Which institution is Canada’s central bank, established by Parliament in 1934?

The Bank of Canada is Canada’s central bank, established by Parliament in 1934.

The Bank of Canada Act created the institution during the Great Depression, and the bank began operations in March 1935. It was initially privately owned but became a Crown corporation in 1938.

The bank is responsible for monetary policy, issuing Canadian banknotes, promoting a stable and efficient financial system, and acting as the federal government’s banker. Its headquarters are in Ottawa.

The Bank of Canada is separate from the Royal Canadian Mint. The Mint produces circulation coins and commemorative products, while the central bank issues Canada’s banknotes and manages monetary policy.