Bank of Canada Governor David Dodge and Senior Deputy Governor Paul Jenkins today announced a reallocation of responsibilities among several Deputy Governors.

Effective 1 September 2005, the responsibilities of the four Deputy Governors will be the following:

  • Sheryl Kennedy will assume responsibility for analysis of all domestic economic issues and their relationship to monetary policy. The Research Department will report to her.
  • Pierre Duguay will assume responsibility for issues related to financial stability and financial institutions and will retain responsibility for the issuance of bank notes. The Department of Monetary and Financial Analysis and the Department of Banking Operations will report to him.
  • David Longworth will assume responsibility for domestic and international financial market issues and the Bank's fiscal agency role for the federal government. The Financial Markets Department and the Debt Administration Office will report to him.
  • Tiff Macklem will retain responsibility for analysis of international economic and financial issues. The International Department will continue to report to him.

The Governor, Senior Deputy Governor, and four Deputy Governors comprise the Governing Council, the body responsible for the conduct of monetary policy.

Further information about the Bank's organizational structure and responsibilities, as of 1 September 2005.