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MNI BRIEF:BOC To Add 2nd External Deputy, Extends Vincent Term

Bank says outside perspective has helped improve decision-making.

MNI (OTTAWA) - The Bank of Canada is hiring a second external deputy governor and extended the term of the current outside member, saying getting wider perspectives has helped improve monetary policy.

The central bank's board of directors initiated the search for the new deputy according to a statement Thursday, which would bring the Governing Council that sets interest rates to seven members. Nicolas Vincent's term as a part-time member of the council is being extended to three years, now ending in March 2026. 

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MNI (OTTAWA) - The Bank of Canada is hiring a second external deputy governor and extended the term of the current outside member, saying getting wider perspectives has helped improve monetary policy.

The central bank's board of directors initiated the search for the new deputy according to a statement Thursday, which would bring the Governing Council that sets interest rates to seven members. Nicolas Vincent's term as a part-time member of the council is being extended to three years, now ending in March 2026. 

Keep reading...Show less