Agathe Côté named new Bank of Canada deputy

The Bank of Canada on Tuesday named Agathe Côté, an adviser at the central bank, as one of its deputy governors.

Côté succeeds Pierre Duguay with effect from 30 July. Duguay retires on 29 July after more than 37 years with the central bank.

As deputy governor, Côté will join the central bank's Governing Council and share responsibility with Tim Lane, another deputy governor at the central bank, for overseeing its financial system activities.

"Agathe's deep knowledge of the institution, her sound judgment, and her expertise in monetary policy and financial stability issues make her a tremendous addition to governing council," said Mark Carney, the governor of the central bank. "Agathe has already made important contributions to the central bank's policy responsibilities," he said.

Côté joined the central bank in 1982 as an economist in the international department and, later, in the department of monetary and financial analysis. Côté was appointed deputy chief of monetary and financial analysis in 2000 and, in 2001, deputy chief of the financial markets department. From 2003 to 2008, she was chief of the central bank's research department. In August 2008 she was appointed as an adviser to the governor, with responsibilities in the area of domestic and international monetary policy issues.

Côté holds bachelors and masters degrees in economics from the University of Montréal.