The Board of Administrators of the Financial institution of Canada (BoC) introduced on Friday the appointment of Rhys R. Mendes as Deputy Governor, efficient July 17, 2023.
“As Deputy Governor, Mr. Mendes will be part of the Financial institution’s Governing Council, which units the strategic course of the Financial institution and is its policy-making physique. He’ll oversee the Financial institution’s financial and monetary analysis, its evaluation of worldwide financial developments, and he’ll function the Financial institution’s G7 and G20 Deputy”, the BoC stated in an announcement.
The Governing Council makes the ultimate resolution relating to financial coverage.