The code of silence…
Posted by: Julie Gordon
It was a routine press conference given by Canada’s Finance Minister Jim Flaherty and Bank of Canada Governor Mark Carney on the results of Friday’s G7 meeting.
After reassuring Canadian’s that they “probably have the most efficient, effective financial system in the world”, Carney was asked how Wednesday’s coordinated interest rate cut came together and who drove the process.
His answer revealed not only a “code of silence” among Central Bank leaders, but also hinted that those same leaders might have some special powers — at least if we are to believe they all independently decided an interest rate cut was a good idea at the exact same time.
Bank of Canada Governor Mark Carney
