The Board of Directors of the Bank of Canada today announced the appointment of John D. Murray as Deputy Governor of the Bank and a member of the Bank's Governing Council, effective 4 January 2008. Mr. Murray's appointment fills the vacancy created by the departure of Tiff Macklem.

Mr. Murray has been an Adviser to the Governor since January 2000 and his responsibilities have included research and analysis of both domestic and international economic issues. Mr. Murray first joined the Bank in 1980 as a Senior Economist with the Monetary and Financial Analysis Department and was subsequently promoted to positions including Research Officer and Assistant Chief of the Department, and then to Deputy Chief, and Chief of the International Department. Born in Toronto, Ontario, Mr. Murray received a BA degree in commerce from Queen's University, and an MA and PhD in economics from Princeton University. After completing his PhD, Mr. Murray taught at the University of British Columbia and at the University of North Carolina. From 1985 to 1986, he also lectured at Princeton University.

Bank of Canada Governor David Dodge welcomed Mr. Murray's appointment. "John Murray brings to his role as Deputy Governor an outstanding depth of knowledge, particularly in international matters," Governor Dodge said. "With his deep expertise in economics and monetary policy and his recognized leadership in the academic and central bank communities, Mr. Murray will make a critical contribution to the Bank's efforts to promote the economic and financial welfare of Canada."