The Bank of Canada is calling for greater competition in the banking sector, arguing that the current system operates like an oligopoly. Senior Deputy Governor Carolyn Rogers stated that increased competition would boost labour productivity, strengthen the economy, and help Canada better withstand challenges such as U.S. tariffs, offering potential relief for Canadians struggling amid slow economic growth.
https://www.junonews.com/p/bank-of-canada-calls-for-more-competition