Which of the Following Statements Best Describes the Relationship Between

Multiple Choice

Which of the following statements best describes the relationship between the Bank of Canada and the Government of Canada?

A) The Bank of Canada has the same status as the Department of Finance and is directly responsible to Parliament for its day-to-day operations of monetary policy.
B) The Bank of Canada is a wholly owned entity of the government but is given independence in the day-to-day operations of monetary policy.
C) The Bank of Canada is a central-banking institution that is completely independent of the government and is fully autonomous in its conduct of monetary policy.
D) The Bank of Canada is a privately owned banking institution that is overseen by a Board of Directors with a mandate to act in the best interests of the citizens of Canada.
E) The governor of the Bank of Canada and the minister of finance have joint responsibility for both fiscal and monetary policy.