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:
“[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)
“There are times when even the most potent governor must wink at transgression, in order to preserve the laws inviolate for the future.”
—Herman Melville (1819–1891)
“Three years ago, also, when the Sims tragedy was acted, I said to myself, There is such an officer, if not such a man, as the Governor of Massachusetts,—what has he been about the last fortnight? Has he had as much as he could do to keep on the fence during this moral earthquake?... He could at least have resigned himself into fame.”
—Henry David Thoreau (1817–1862)