Bank of Canada announces Deputy Governor Appointment

The Board of Directors of the Bank of Canada today announced the appointment of Agathe Côté as Deputy Governor of the Bank effective 30 July 2010.

As Deputy Governor, Ms. Côté will join the Bank's Governing Council, which is the policy-making body of the Bank. The Governing Council is responsible for monetary policy, policies aimed at promoting a sound and stable financial system, and the strategic direction of the Bank. Within the Governing Council, Ms. Côté will share responsibility with Deputy Governor Tim Lane for overseeing the Bank's financial system activities.

"Agathe's deep knowledge of the institution, her sound judgment, and her expertise in monetary policy and financial stability issues make her a tremendous addition to Governing Council," said Mark Carney, Governor of the Bank. "Agathe has already made important contributions to the Bank's policy responsibilities. My colleagues and I greatly look forward to working with her on Governing Council."

Ms. Côté was appointed Adviser to the Governor in August 2008, with responsibilities in the area of domestic and international monetary policy issues. Born in Saint-Hyacinthe, Quebec, Ms. Côté has bachelor's and master's degrees in economics from the University of Montréal.

Ms. Côté joined the Bank in 1982 as an economist in the International Department and, later, in the Department of Monetary and Financial Analysis. Ms. Côté was appointed Deputy Chief of Monetary and Financial Analysis in 2000 and, in 2001, Deputy Chief of the Financial Markets Department. From 2003 until 2008, she was Chief of the Bank's Research Department (now Canadian Economic Analysis). Ms. Côté has also been a member of Statistics Canada's Advisory Committee on National Accounts.

Her appointment will fill the vacancy that will be created by the retirement of Pierre Duguay on 29 July.