The Board of Directors of the Bank of Canada (BoC) on Friday announced the appointment of Rhys R. Mendes as Deputy Governor effective July 17, 2023.
“As Deputy Governor, Mr. Mendes will join the Bank’s Board of Governors, which sets the Bank’s strategic direction and is its policy-making body. He will oversee the bank’s economic and financial research, its analysis of international economic developments, and will act as the bank’s representative to the G7 and G20. BoC he said in a statement.
The final decision on monetary policy is made by the Governing Council.