(OTTAWA) The Bank of Canada on Monday announced the appointment of Nicolas Vincent, a professor in the applied economics department at HEC Montreal, as external nonexecutive deputy governor for a two-year term.
As a non-executive member, Mr. Vincent will be a member of the Board of Directors, but will have no other responsibilities at the Bank of Canada.
The Governing Council of the Bank of Canada is responsible for monetary policy and the stability of the financial system.
The central bank explained that the fourth post of deputy governor had been replaced by a non-executive post in order to bring “in order to integrate diverse points of view into our decision-making surrounding monetary policy which is based on consensus”. .
As Deputy Governor, the Economist will also be responsible for communicating with the public about central bank policy decisions and the outlook for the economy.
Mr. Vincent will join the Bank of Canada on March 13 to work part-time, and will remain affiliated with HEC Montréal.