October 4, 2007

Archived - Canada's New Government Approves Appointment of Mark Carney as Governor of the Bank of Canada

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The Honourable Jim Flaherty, Minister of Finance, today announced the Governor in Council approval of Mark Carney as the next Governor of the Bank of Canada.

Mr. Carney, whose appointment was made by the Directors of the Bank of Canada who were appointed under Section 9 of the Bank of Canada Act, is currently Senior Associate Deputy Minister of Finance and G-7 Deputy of Canada. His seven-year term as Governor of the Bank of Canada is effective February 1, 2008.

Mr. Carney replaces Governor David Dodge, who is retiring after an outstanding career at the Bank and in the public service. Governor Dodge indicated in April that he did not intend to seek a second term.

"Along with the Prime Minister, I look forward to working with the new Governor to continue to improve our country's long-term economic prosperity" said Minister Flaherty. "Mark Carney is eminently qualified to lead the Bank of Canada and we are confident he will provide a steady hand to help maintain the stability of Canada's monetary system."

A statement by the Minister on the appointment of Mark Carney is attached.

For further information, media may contact:

Chisholm Pothier
Press Secretary
Office of the Minister of Finance

David Gamble
Media Relations
Department of Finance

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