"We are saddened by the passing on Friday of a great friend, former Bank of Canada Governor, Gerald Bouey.

Gerry Bouey had a long and remarkable career at the Bank. He was a distinguished and highly respected Bank of Canada Governor, not only in this country but internationally as well. His outstanding leadership as Governor from 1973 to 1987, through some very challenging economic times, contributed importantly to Canada's economic growth and development, but also to strengthening the Bank itself as a centre of high-quality research and expertise.

I, and many Canadians, will remember Gerry as a consummate Governor, a man of enormous intellect and integrity, who worked tirelessly to ensure the Bank achieved the highest standards of public policy. But we will remember him also for his warmth, his sense of humour and his generous nature.

I, and all the present and retired staff of the Bank, extend our deepest sympathies to Gerry's wife, Anne, and his children, Kathryn and Robert."

Mr. Bouey passed away on 6 February 2004.