Thursday, November 8, 2007

Central Bank Independence

There needs to be an economic manual for politicians. One of the things in it would be "Don't tell central bankers how to do their job." Listen up, Mr. McGuinty.
Meanwhile, Ontario Premier Dalton McGuinty said Thursday Prime Minister Stephen Harper "listened intently" during a private, 45-minute meeting they held at a Toronto hotel. McGuinty said he made a case for lower interest rates to curb the soaring Canadian dollar.

Article here. I don't even think a cut in rates would do much to depreciate the dollar, but note "cuts", the plural, so I'm hesitant to say McGuinty's supposed plan would have little impact, because I don't know how deep he'd like to cut.

Feel free to suggest other additions to this volume. Maybe we can get it printed and mailed.

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