If the Canadian central bank is like any other central bank in the non-Euro world, it governs primarily on the basis of statistics. There's political influence, sure, but monetary policy revolves primarily around numbers. And depending on which version of mainstream economics you subscribe to, the importance of central bank policy in macro supply-demand equilibrium ranges from "all-important" to "almost all-important".
Those macro figures are crucial in unemployment and inflation numbers, and are increasingly suspected to play a part in the labor-capital balance.
TL;DR Medium-term macro numbers depend primarily upon the central banker manipulators of macro numbers.
If the Canadian central bank is like any other central bank in the non-Euro world, it governs primarily on the basis of statistics. There's political influence, sure, but monetary policy revolves primarily around numbers. And depending on which version of mainstream economics you subscribe to, the importance of central bank policy in macro supply-demand equilibrium ranges from "all-important" to "almost all-important".
Those macro figures are crucial in unemployment and inflation numbers, and are increasingly suspected to play a part in the labor-capital balance.
TL;DR Medium-term macro numbers depend primarily upon the central banker manipulators of macro numbers.