October 26, 2015 / 2:11 PM / 2 years ago

Bank of Canada Deputy Governor Cote to step down in January

OTTAWA (Reuters) - Bank of Canada Deputy Governor Agathe Cote, who has overseen the central bank’s analysis of domestic economic developments, will retire at the end of January, the bank announced on Monday.

As one of the six members of the Governing Council, she has shared responsibility for decisions on monetary policy and financial system stability.

The process to appoint her replacement will begin at the end of the year, the bank said.

Unlike the case of the U.S. Federal Reserve or the Bank of England, Bank of Canada officials do not take independent public stances but are expected to speak with one voice.

Reporting by Randall Palmer; Editing by Bernadette Baum

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