The Bank of Canada has announced the appointment of Michelle Alexopoulos as an external Deputy Governor. Her term will begin on March 17, 2025, and will last for two years. This appointment follows a public external recruitment process and increases the Bank’s Governing Council to seven members.
Governor Tiff Macklem expressed enthusiasm about the new addition: "I am delighted that Michelle Alexopoulos is joining the Bank’s Governing Council and I am looking forward to working with her." He highlighted Dr. Alexopoulos’ expertise in macroeconomics and her potential contribution to policy decisions, stating, "She is a top-tier macroeconomist with deep expertise in issues critical to Canada’s economic prospects."
Dr. Alexopoulos will participate in monetary policy decision-making and communication with Canadians regarding the Bank's economic outlook and inflation policies. The role of external Deputy Governor was established in 2023 to enhance diverse perspectives within the consensus-based policymaking process. Nicolas Vincent was appointed as the first external Deputy Governor in March 2023.
While serving part-time at the Bank, Dr. Alexopoulos will retain her position as a professor of economics at the University of Toronto. Her research focuses on business cycles, technological change, productivity, and central bank communications. She has received recognition from various institutions including being a past president of the Canadian Economics Association.
Born in Toronto, Dr. Alexopoulos holds degrees from both the University of Toronto and Northwestern University.