The Bank of Canada is the country's central bank, responsible for monetary policy, the issuing of banknotes and the stability of the financial system. It was created by an Act of Parliament under the Conservative government of R. B. Bennett during the Great Depression and began operating in Ottawa in 1935, with Graham Towers as its first governor. At first it was privately held through shares, but it was nationalized in 1938 and has since been owned by the federal government. Since 1991 it has pursued an inflation-targeting framework, aiming to keep inflation near two percent. Its head office is in Ottawa.
Before and after
- 1934Publication of March of the Volunteers
- 1934Founding of DC Comics
- 1934Founding of British Council
- 1934Construction of University of Tehran
- 1934Founding of Bank of Canada
- 10 January 1934Birth of Leonid Kravchuk
- from 12 February 1934 to 16 February 1934Austrian Civil War
- 9 March 1934Birth of Yuri Gagarin
- 3 April 1934Birth of Jane Goodall
More in Society, economy & sport
- 22 March 1928Founding of Muslim Brotherhood
- 1929Origins of Serie B
- from 1932 to 1933Holodomor
- 4 March 1933Roosevelt's New Deal begins
- 28 August 1937Founding of Toyota
- 7 December 1944Founding of International Civil Aviation Organization
The era
This moment belongs to the Modern era (1914 CE to 1945 CE), world wars and a changing world. You can also browse everything in the 20th century.