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The Bank of Canada (BoC; French: Banque du Canada) is a Crown corporation and Canada's central bank. [4] Chartered in 1934 under the Bank of Canada Act , it is responsible for formulating Canada's monetary policy, [ 5 ] and for the promotion of a safe and sound financial system within Canada. [ 6 ]
In a statement, Carney credited his appointment to "the strong reputation of Canada's financial system and the leading role that Canada has played in helping to develop many of the most important international reforms". [32] The three-year term was a part-time commitment, allowing Carney to complete his term at the Bank of Canada.
Governor of the Bank of Canada (French: gouverneur de la Banque du Canada) is the chief executive officer of the Bank of Canada and acts as chair of its board of directors. [1] The Bank of Canada Act , 1985, S. 6(1), [ 2 ] provides that the governor and deputy governor shall be appointed by the directors with the approval of the Governor ...
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His appointment was controversial as the Bank of Canada traditionally promotes from within, helping to avoid the perception of politicizing of the central bank. [7] During Dodge's term, annual inflation stayed close to the Bank of Canada's target of 2 percent, and the Canadian economy avoided any recessions. [ 7 ]
Richard Tiffany "Tiff" Macklem (born June 4, 1961) is a Canadian banker and economist who has served as the 10th governor of the Bank of Canada since 2020. [1] [2] [3] He was also the former dean of the Rotman School of Management [4] and had previously served as the senior deputy governor of the Bank of Canada.
Carolyn A. Wilkins is a Canadian economist.She served as Senior Deputy Governor of the Bank of Canada. [1] from May 2, 2014 [2] to December 9, 2020. [3]Wilkins was the first woman to hold the position of Senior Deputy Governor, the highest position ever held by a woman at the Bank of Canada.