Harri Vikstedt joined the Bank of Canada in 2006 after having worked in global financial markets in both Europe and North America for the prior 17 years. He managed the Bank’s Canadian dollar trading operations during the financial crisis, including those related to open market operations and foreign exchange.
Harri is currently a Senior Director in the Financial Markets Department responsible for implementing the Bank’s strategy for acquiring and analyzing financial market intelligence, including through the Canadian Foreign Exchange Committee (CFEC) and the Canadian Fixed-Income Forum (CFIF). He is also responsible for overseeing the Bank’s trading operations, including those related to the exchange fund account. He is a Chartered Financial Analyst and completed his engineering and MBA (Finance) degrees at the University of Toronto.
Thomas Thorn and Harri Vikstedt examine the efforts being taken internationally and in Canada to enhance the governance and integrity of financial benchmarks. The report provides an overview of how interbank interest rate benchmarks are set and describes the weaknesses in the process that were exposed by the financial crisis. It also explains recent policy developments designed to make global and Canadian interbank benchmarks more robust.