Bank Of Canada Names New Deputy Governor

The Bank of Canada has appointed a new deputy governor.

The central bank says that Sharon Kozicki will take on the role of deputy governor beginning on August 2 after serving eight years as an adviser to former governor Stephen Poloz and current governor Tiff Macklem.

Kozicki also worked on the Bank of Canada's monetary policy framework in 2016 when the central bank renewed its inflation-targeting agreement with the federal government, which will be renewed again later this year.

In a statement, the Bank of Canada said Kozicki will make an important contribution to deliberations by the bank's governing council and ensure that the central bank takes "decisions based on diverse perspectives."

The appointment of Kozicki will bring the size of the bank's governing council back up to a full complement of six members and is also the second hire in as many weeks after the bank named Carolyn Rogers as the new senior deputy governor starting in mid-December this year.

Once Rogers joins the board, the central bank said in a statement that the governing council "will temporarily consist of seven people," which will allow for "smooth succession in the event of future retirements."