Governor of the Bank of Canada

Governor of the Bank of Canada
Gouverneur de la Banque du Canada
Incumbent
Tiff Macklem
since June 3, 2020
Bank of Canada
Reports toMinister of Finance
SeatOttawa, Ontario
AppointerBoard of Directors
with Governor in Council approval
Term lengthSeven years, renewable
Constituting instrumentBank of Canada Act
Formation1934
First holderGraham Towers
DeputySenior Deputy Governor
Websitebank-banque-canada.ca

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-General-in-Council.

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. Name Term
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. Name Term
1 John Robert Beattie 1970 – 1971
2 Gerald Bouey 1972 – 1973
3 R. William Lawson 1973 – 1984
4 John Crow 1984 – 1987
5 Gordon Thiessen 1987 – 1994
6 Bernard Bonin 1994 – 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

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. ^ a b c "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.

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