Toni Gravelle, Deputy Governor of the Bank of Canada (BoC), took part in a fireside chat with students in the Master of Financial Economics program on July 9^th. One of four Deputy Governors, Gravelle sits on the central bank’s Governing Council led by the Governor and Senior Deputy Governor. The six members of the council engage in every aspect of the country’s monetary policy, including setting interest rates. Deputy governors are appointed by the bank’s Governing Council at the recommendation of the Prime Minister and cabinet. Like deputy ministers and other senior civil servants, these highly trained and experienced individuals oversee operations and delivery of the ministerial services. Members of the governing council supervise, and are accountable, for ensuring the Bank of Canada fulfills its mandate. In his role, Gravelle leads the Financial Markets Department (FMD) and the Banking and Payments Department of the BoC. He is also one of two Deputy Governors who oversee the bank’s role in supporting a reliable financial system. Gravelle earned his PhD in Economics from the University of Western Ontario. [Read more…]