January 21, 1957 (22nd Parliament, 5th Session)


Walter Edward Harris (Minister of Finance and Receiver General; Leader of the Government in the House of Commons; Liberal Party House Leader)


Mr. Harris:

Mr. Speaker, of course we do not take action without being aware of the general implications involved. Perhaps my answer to the hon. member for Oxford might have been a little bit more forthcoming than it was. The effect on monetary policy, if any, was so little that it was not a factor in the decision. If my answer was not that clear, I must apologize for it. But I am quite sure that the effect on the monetary policy was such that, as I say, it was not a factor in the decision which was made for other reasons.

Topic:   FINANCE
Subtopic:   BANK OF CANADA
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