(OTTAWA) The Bank of Canada announced on Friday the appointment of Rhys Mendes to the post of deputy governor, which he will hold as of July 17.
According to a central bank press release, Mendes first joined the Bank of Canada in 2004, but has been on secondment to the finance ministry since 2021, serving as assistant deputy minister there.
As deputy governor, Mendes will serve on the central bank’s governing council, which is responsible for setting monetary policy.
Mr. Mendes will also oversee the bank’s economic and financial research activities and its analyzes of developments in the international economy, in addition to representing the institution at the G7 and G20.
Mr. Mendes will replace Deputy Governor Paul Beaudry, who will leave the Bank of Canada this summer and return to his academic position at the University of British Columbia.
The new deputy governor was born in Richmond Hill, Ontario, and holds a bachelor’s degree in economics from York University, as well as master’s and doctoral degrees in the same discipline from the University of Toronto. .