Just in from Finance Canada:
The Honourable Jim Flaherty, Minister of Finance, met with David Laidley, Chair of the Special Committee of the Board of Directors of the Bank of Canada designated to develop a list of qualified candidates for the position of Governor of the Bank of Canada.
As a matter of course, this meeting affords both the Minister and the Chair an opportunity to review procedure and to discuss timelines to ensure a smooth transition.
The position of Governor was advertised on January 7, 2013 by the recruitment firm Odgers Berndtson, at the direction of the Special Committee. The mandate of the Bank of Canada is to conduct monetary policy to keep inflation low, stable and predictable and to promote the integrity of Canadian currency. The Governor has responsibility for the oversight of all aspects of the work of the Bank of Canada. With the recruitment process now underway, the Special Committee, in close consultation with the Minister, will review the list of initial candidates put forward by the recruitment firm.
Once fully vetted, the Special Committee will then recommend a roster of qualified candidates to the Minister for him to interview. The appointment of the Governor by the Directors is subject to the approval of the Governor in Council.