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| | Economic Research at the Bank of Canada, 1935-65 - Research - Publications and Research - Bank of Canada |
 | | By way of illustrating this, ex-Governor Gerald Bouey has pointed out that Bank rate was set at 2.5 percent in 1935, was lowered to 1.5 percent in 1944, then raised in 1950 to 2 percent, where it remained until 1955. |
 | | Robert Johnstone, who had joined the Research Department in 1957, was seconded to the commission staff, and the preparation of the Bank's own submission to the commission preoccupied a number of other researchers, including notably Gerald Bouey and George Freeman, and ex-department-members Robert Beattie (senior deputy governor) and William Lawson (executive assistant to the governors). |
 | | In its submission, the Bank concluded that its main impact on the economy came through its ability to influence variations in credit conditionsin the difficulty, expense, and risk of borrowing, and in the counterpart attractiveness of acquiring and holding various kinds of financial assets. |
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