Bank of CanadaThe Bank of Canada (BOC) is Canada's central bank and was created in 1934. It's main objective is to promote the economic and financial well-being of Canada. It is the sole issuer of banknotes in Canada, and the central bank for the Canadian dollar. The bank's headquarters are located in downtown Ottawa. The primary role of the BOC is to promote the country's economic and financial welfare. Its responsibilities focus on maintaining low and stable inflation, a secure currency and financial stability. More specifically, it strives to keep the rate of inflation between 1% and 3%. The policy of the BOC has been to intervene in the foreign exchange market only under exceptional circumstances allowing the Canadian dollar's value to be determined by the free market. The head of the BOC is the Governor who is appointed by the bank's Board of Directors. The Governor serves a 7 year term, and cannot be dismissed by the government. In case of a disagreement between the government and the BOC, the Minister of Finance can issue written instructions for the bank to change its policies. More information about the BOC and its effect on the forex market can be found at the following link:
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