Canada's Kennedy on capital markets

In a speech on 'Canada's Capital Markets: How Do They Measure Up?' given on 27 May, Sheryl Kennedy of the Bank of Canada compares the efficiency of Canada's capital markets with those in other countries. She concludes with a discussion of monetary policy and the Bank's outlook for the economy and inflation in Canada.

Ms Kennedy begins by offering some perspective on three aspects of market efficiency: efficiency in allocating capital and risks, operational efficiency and efficiency in

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