Andrew Coyne: Is Stephen Poloz hiring another sign Bank of Canada is losing its independence?

National Post | Full Comment

Some days it really does seem as if we live in some duchy in a forgotten part of Europe, ruled by archdukes and grand viziers. So once again we awake to find a position of immense importance, with the power to affect all of our lives, is to be filled by someone we know next to nothing about, for reasons no one will say, by a process that seems as arbitrary as it is opaque.

[np_storybar title=”John Ivison: Poloz’s most important attribute is understanding the Harper agenda” link=”http://fullcomment.nationalpost.com/2013/05/02/john-ivison-new-bank-of-canada-governors-most-important-attribute-is-understanding-the-harper-agenda/”]
Bank of Canada Governors are appointed by the bank’s independent directors, subject to the approval of the Minister of Finance and the federal Cabinet. At least, that’s how the Bank of Canada puts it.

Jim Flaherty would doubtless say it differently – the directors give the Finance Minister a shortlist of qualified candidates and he picks the one most likely to follow…

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