According to the Bank of Canada, approximately how many months does it take for the...

The Bank of Canada estimates that the effects of changes in monetary policy take approximately 18 months to fully work through the entire economy. This lag exists because monetary policy impacts various sectors, such as consumer spending, business investment, and trade, at different speeds.

B. 6 months: This is too short a timeframe for the full effects of monetary policy to materialize.

C. 3 months: Immediate impacts may be seen in financial markets, but the broader economic effects require longer.

D. 36 months: This is far longer than the typical lag for monetary policy effects.