Carmichael: Carney gets a chance to overhaul the Bank of Canada
Former Bank of Canada governor Mark Carney, now prime minister, is positioned to reshape the bank's mandate in 2026, drawing on lessons from the U.K.’s stronger accountability and oversight mechanisms. Kevin Carmichael argues that Canada’s central bank has grown more vulnerable to political interference, worsened by declining parliamentary scrutiny and the increasingly partisan treatment of monetary policy. Experts propose reforms to reinforce independence and transparency, but Carmichael warns these will matter only if politicians and Parliament recommit to serious, informed oversight.
