Another example of the primacy of monetary policy from Canada

I had bookmarked an article from the Wall Street Journal's Canadian blog but didn't insert it into my earlier comments about over-reliance on monetary policy but it is very relevant. The WSJ article reads as follows:

Canada’s plan to introduce balanced-budget legislation has some economists saying the country’s central bank may have to adopt an easy monetary policy to offset slower growth as Ottawa pares spending to eliminate deficits.
The proposal for a new law to mandate balanced budgets...


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