Deputy governor Sharon Kozicki revealed in a speech Thursday that the central bank is in the middle of a post-mortem on the various extraordinary measures it used to fight the COVID crisis. External experts will assess the review before the central bank releases it early next year. (The Logic) 

Talking point: The Bank of Canada’s response included a decision to create billions dollars to buy bonds, an aggressive approach to monetary policy that had been used elsewhere but never in Canada. Governor Tiff Macklem also made an unusually explicit promise to keep the benchmark interest rate near zero for an extended period of time. Both measures were controversial, especially the bond purchases. Conservative Leader Pierre Poilievre, for one, insists the policy contributed to inflation by increasing the money supply and facilitating the federal government’s deficit spending. Kozicki offered evidence that the policies helped keep borrowing costs low, and reminded her audience that “we were worried that we would see a repeat of the Great Depression.”