Bank of Canada names Agathe Cote a deputy governor

Tue Jun 22, 2010 4:32pm EDT
 
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OTTAWA (Reuters) - The Bank of Canada on Tuesday named Agathe Cote to the influential post of deputy governor, giving her a place on the central bank's six-member council, which sets interest rates.

Cote, an adviser to bank Governor Mark Carney on domestic and international monetary policy issues, will be the only woman among the four deputy governors. She succeeds Pierre Duguay, who is due to retire at the end of July.

Financial experts had already tipped Cote -- an economist who joined the bank in 1982 -- as a possible replacement for Duguay. She will serve on the bank's Governing Council, which makes policy.

"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," Carney said in a statement.

Cote was chief of the bank's research department from 2003 to 2008, when she became an adviser to Carney.

(Reporting by David Ljunggren; editing by Peter Galloway)