Britain is confronted with the EU and its Economic and Monetary Union or the 'eurozone' an area of 12 EU Member States in which the Euro is the single currency. At a time in which the discussion revolves around the future of national currencies, this work looks at the question of monetary integration for the cases of Britain and Canada.For about a year after January 2001, Canadaa#39;s interest rate exceeded the US rate by a small margin, but after January 2002 the gap widened dramatically. As can be seen from Figure 3, this result was caused by a deliberate increase in the Canadian rate at the same time that the US ... January 2002 thus marks another period when Canada clearly exercised its national monetary sovereignty. ... Why did the Bank of Canada deliberately raise its interest rate so much above the US rate?
|Title||:||Britain and Canada and Their Large Neighboring Monetary Unions|
|Publisher||:||Nova Publishers - 2006-01-01|