Governor David Dodge
From FXPedia
David Dodge is a former Governor of the Bank of Canada. He was appointed to the position on February 1st, 2001 and served until the end of his term which expired on January 31st, 2008. He was succeeded by Mark J. Carney.
Mr. Dodge holds degrees in economics including a PhD from Princeton and served as Canada’s Deputy Minister of Finance from 1992 to 1997. He has also held senior positions in several government agencies including the Anti-Inflation Board where he was the research director, and the Department of Employment and Immigration where he led the Labour Market Development Task Force.
Mr. Dodge has stated that in the early part of his term, Canada’s weakening economy and the fallout of the 9 / 11 attacks, forced the Bank to provide a boost to the economy by lowering interest rates to levels unseen in Canada for over forty years. As the economy turned around – and in the face of much criticism – he hiked the overnight lending rate nine times between 2004 and 2006 in moves intended to cool the economy and maintain a 2% rate of inflation. These efforts have proven effective as Canada’s rate of inflation has consistently remained within the target since 2003.
Mr. Dodge has a reputation for ensuring that changes to the key interest rates and other Bank of Canada policy changes are communicated well before they are implemented. Mr. Dodge maintains a very active speaking schedule and transcripts of his speeches are available on the Bank of Canada website.
Update – October 4, 2007
The Board of Governors announced earlier today that Mark J. Carney has been named the next Governor of the Bank of Canada. Carney will serve in a supporting role to Governor David Dodge and will officially take over the helm of the Bank of Canada on February 1, 2008.
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Bank of Canada Governor Mark Carney
