What is the monetary policy of Canada?

I am specifically wondering how our money comes about. For example, when the Americans want to output some more currency, the government indicates to the Federal Reserve that they want more money. The Fed then prints the sum of money requested, and then trades it with the government for government bonds. The government then takes this sum of money and transfers it into a bank account, thus turning it into money. The Fed sells this money to the government with an interest attached, meaning that every dollar in your pocket is less than a dollar because there is interest attached to that "loaned" dollar. The Federal Reserve is essentially the US's Central Bank. Our Central Bank is The Bank of Canada. Unfortunately there is not as much information about The Bank of Canada (compared to the Fed) on the internet. So I am wondering is Canada's monetary policy similar to the ridiculous policy of the United States?