Bank of Canada: A History of Canadian Prime
The Bank’s Beginnings
In 1933, Criticism of Canada’s banking system fueled a movement in Prime Minister R.B. Bennett’s parliament stoking concern that Canada lacked a direct means for settling international accounts. The Royal Commission to study “for” or “against” setting up a central banking system was voted in.
The arguments “for” won and adoption of the suggestions from the report started shortly after. Suggestions from the report became the framework for the Bank of Canada Act, which received royal assent on 3 July 1934. The Bank of Canada officially opened its doors in March 1935, as a privately owned institution, with shares sold to the public.
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Bank of Canada: A History of Canadian Prime
“The GTA rental market recovery began in earnest during the second quarter, with a surge in leases, reduced vacancy, and an increase in rents as lockdown measures began to ease. Remarkably, downtown Toronto led the growth in rental activity in Q2 as the mass vaccination rollout and gradual reopening of the economy during the second quarter combined with attractive rent discounts to bring renters flooding back into the core.” – Urbanation
