OTTAWA, Ill. — The Bank of Canada has appointed Rhys Mendes as a deputy governor, effective July 17.
According to a news release from the central bank, Mendes first joined the Bank of Canada in 2004 but has been on secondment to the Department of Finance as an assistant deputy minister since 2021.
As a deputy governor, Mendes will be part of the central bank's governing council, which is in charge of setting monetary policy.
Mendes will also oversee the central bank's economic and financial research, its analysis of international economic developments and will serve as its G7 and G20 deputy.
Mendes will be replacing deputy governor Paul Beaudry, who is leaving the Bank of Canada this summer and returning to his academic position at the University of British Columbia.
Mendes was born in Richmond Hill, Ont. and holds a bachelor of arts in economics from York University, as well as a master's degree and PhD from the University of Toronto.
This report by The Canadian Press was first published May 12, 2023.
Nojoud Al Mallees, The Canadian Press
