Top News

Bank of Canada announces appointment of new deputy governor

FILE PHOTO: A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie

TORONTO (Reuters) - The Bank of Canada announced on Thursday the appointment of Toni Gravelle, who has been managing director of the central bank’s financial markets department, as a new deputy governor, filling the vacancy created by the retirement in July of Lynn Patterson.

Gravelle will join the governing council that makes interest rate decisions and will share responsibility for overseeing the bank’s financial system activities with Deputy Governor Paul Beaudry, a press release said. The appointment will be effective on Oct. 1.

Reporting by Fergal Smith