Central Banking

Thiessen rejects dollar union

Gordon Thiessen, Bank of Canada governor, has again rejected the idea of sharing a common currency with the United States. A Canadian dollar which floats in value against other currencies is the best policy for the country at this time in its history, Mr Thiessen said yesterday in a speech to the Montreal Chamber of Commerce.

Mr Thiessen, who steps down as central bank governor on 31 January 2001, outlined his longstanding objections to a type of currency arrangement with the US advocated by

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