Governor
The head of the Bank of Canada is the Governor, who is appointed by the Bank's Board of Directors. The Governor is appointed for a seven-year term, and can be dismissed by the government. In case of a profound disagreement between the government and the Bank, the Minister of Finance can issue written instructions for the Bank to change its policies. This has never actually happened in the history of the Bank to date. In practice, the Governor sets monetary policy independently of the government.
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Famous quotes containing the word governor:
“President Lowell of Harvard appealed to students ‘to prepare themselves for such services as the Governor may call upon them to render.’ Dean Greenough organized an ‘emergency committee,’ and Coach Fisher was reported by the press as having declared, ‘To hell with football if men are needed.’”
—For the State of Massachusetts, U.S. public relief program (1935-1943)
“[John] Brough’s majority is “glorious to behold.” It is worth a big victory in the field. It is decisive as to the disposition of the people to prosecute the war to the end. My regiment and brigade were both unanimous for Brough [the Union party candidate for governor of Ohio].”
—Rutherford Birchard Hayes (1822–1893)
“Ah, Governor [Murphy, of New Jersey], don’t try to deceive me as to the sentiment of the dear people. I have been hearing from the West and the East, and the South seems to be the only section which approves of me at all, and that comes from merely a generous impulse, for even that section would deny me its votes.”
—William Howard Taft (1857–1930)