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:
“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)
“It is better to have the power of self-protection than to depend on any man, whether he be the Governor in his chair of State, or the hunted outlaw wandering through the night, hungry and cold and with murder in his heart.”
—Lillie Devereux Blake (1835–1913)
“[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)