The Board of Directors of the Bank of Canada announced today that, pursuant to Section 6 of the Bank of Canada Act, Malcolm Knight has been appointed Senior Deputy Governor of the Bank for a seven-year term, effective 5 July 1999.
Professor Daniel Racette has been chosen to fill the visiting economist position of Special Adviser in the Bank of Canada for a one-year term beginning in August 1999.
Bank of Canada Governor Gordon Thiessen today commented on the release of the Bank's ninth Monetary Policy Report.
The Bank of Canada today lowered its Bank Rate by ¼ of one per cent to 4¾ per cent.
The Canadian economy has come through the financial volatility and global economic slowdown of the past few years quite well and has started 1999 on a strong note, Bank of Canada Governor Gordon Thiessen told members of La Chambre de Commerce de la région sherbrookoise today.