Such phases were clearly seen in India during the 2008 financial crisis, when Government and RBI both intervened in the real and financial markets with incentives and regulatory forbearance.
That would be a mistake. The United States is certainly our closest neighbour and by far, our largest trading partner. But the structures of our two economies are very different. This means that each of us often requires different adjustments and different policies in reaction to shocks. Canada's floating exchange rate helps in this process by acting as a shock absorber.