Canada's Duguay: terminating penny coin has no impact on inflation
Pierre Duguay, a deputy governor of the Bank of Canada, spoke on Wednesday about the impact of eliminating Canada's penny coin.
Speaking to the Senate Committee on National Finance in Ottawa, Canada, Duguay discussed the central bank's views on the possible elimination of the penny in terms of the potential impact on inflation, citing some preliminary research on the issue.
"The findings show that any impact on inflation would be insignificant and more likely non-existent," Duguay said.
He noted
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