Governor of the Bank of Canada
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.
| Governor of the Bank of Canada
Gouverneur de la Banque du Canada | |
|---|---|
| Bank of Canada | |
| Reports to | Minister of Finance |
| Seat | Ottawa, Ontario |
| Appointer | Board of Directors with Governor in Council approval |
| Term length | Seven years, renewable |
| Constituting instrument | Bank of Canada Act |
| Formation | 1934 |
| First holder | Graham Towers |
| Deputy | Senior Deputy Governor |
| Website | www |
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.
- The governor is ex-officio the alternate voter on the International Monetary Fund.
Governors and Senior Deputy Governors of the Bank of Canada
| 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 S. Poloz | 2013 – 2020 |
| 10 | Tiff Macklem | 2020 – present |
Senior Deputy Governors of the Bank of Canada
| 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 – present |
| Note: The position of Senior Deputy Governor was created in 1970, with its responsibilities previously divested in one or more Deputy Governors.[4] | ||
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See also
- Crown corporation
- Governor of the Bank of England (UK)
- Chairman of the Federal Reserve (US)
References
- Canada, Government of (November 20, 2017). "Organization Profile - Bank of Canada". appointments.gc.ca. Retrieved March 28, 2020.
- "BANK OF CANADA ACT" (PDF).
- "Tiff Macklem Appointed Governor of the Bank of Canada". www.bankofcanada.ca. Retrieved June 23, 2020.
- "Historical Leadership at the Bank of Canada". www.bankofcanada.ca. Retrieved March 28, 2020.
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