Governor of the Bank of Canada

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Governor of the Bank of Canada
Gouverneur de la Banque du Canada
Tiff Macklem 2018 (cropped 3-4).jpg
Incumbent
Tiff Macklem
since June 3, 2020
Bank of Canada
Reports to Minister of Finance
Seat Ottawa, Ontario
AppointerBoard of Directors
with Governor in Council approval
Term length Seven years, renewable
Constituting instrument Bank of Canada Act
Formation1934
First holder Graham Towers
DeputySenior Deputy Governor
Website bank-banque-canada.ca

The 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 in Council.

Contents

Tiff Macklem serves as the current governor. He assumed office on June 3, 2020. [3]

Roles and responsibilities

The governor and deputy governor sign each series of Canadian banknotes and the governor is the ex-officio alternate voter on the International Monetary Fund.

Lists

Governors [4]
No.NameTerm
1 Graham Towers 1934 1954
2 James Coyne 1955 1961
3 Louis Rasminsky 1961 1973
4 Gerald Bouey 1973 1987
5 John Crow 1987 1994
6 Gordon Thiessen 1994 2001
7 David A. Dodge 2001 2008
8 Mark Carney 2008 2013
9 Stephen Poloz 2013 2020
10 Tiff Macklem 2020 present
Senior deputy governors [4]
No.NameTerm
1John Robert Beattie1970  1971
2 Gerald Bouey 1972  1973
3R. William Lawson1973  1984
4 John Crow 1984  1987
5 Gordon Thiessen 1987  1994
6Bernard Bonin1994  1999
7 Malcolm Knight 1999  2003
8 Paul Jenkins 2003  2010
9 Tiff Macklem 2010  2014
10 Carolyn Wilkins 2014  2020
11*Carolyn Rogers [5] 2021 present

The position of Senior Deputy Governor was created in 1970, with its responsibilities previously divested in one or more deputy governors. [4]

Deputy Governor Timothy Lane assumed such duties as providing the Deputy Governor's signature for banknotes between the resignation of Carolyn Wilkins and the naming of Carolyn Rogers as Senior Deputy Governor.

See also

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References

  1. "Organization Profile - Bank of Canada". Government of Canada. January 14, 2023. Retrieved March 28, 2020.
  2. "Bank of Canada Act" (PDF).
  3. "Tiff Macklem Appointed Governor of the Bank of Canada". Bank of Canada. May 1, 2020. Retrieved June 23, 2020.
  4. 1 2 3 "Historical Leadership at the Bank of Canada". Bank of Canada. Retrieved March 28, 2020.
  5. Rendell, Mark (July 12, 2021). "Carolyn Rogers named senior deputy governor of the Bank of Canada" . The Globe and Mail. Retrieved July 21, 2021.