The Bank of Canada has appointed Michelle Alexopoulos as an external deputy governor, according to a news release published on February 11, 2025. Alexopoulos will assume her position on March 17, 2025, serving a two-year term. Her appointment marks her as the second individual to hold this role, following Nicolas Vincent, whose term has been extended to 2026.
Michelle Alexopoulos is celebrated for her expertise as a University of Toronto economics professor and her previous role as president of the Canadian Economics Association. She holds a PhD in economics from Northwestern University, underscoring her academic and professional credentials. In her new capacity, she will work part-time with the Bank of Canada to infuse fresh perspectives into its policy-making processes.
The creation of the external deputy governor position in 2023 signals the Bank of Canada's commitment to integrating varied viewpoints into its strategic decisions. This role is part of a broader effort to diversify the insights that inform key financial policies. Alexopoulos' appointment reflects the institution's ongoing efforts to harness external expertise in shaping its economic policies.
Nicolas Vincent, the first appointee to this pioneering role, has had his term extended through 2026, ensuring continuity and ongoing diversity in the bank's decision-making approach. His contribution has set a precedent for the impact and value that external perspectives can bring to the Bank of Canada.
Alexopoulos will join the Bank of Canada in a part-time capacity, allowing her to continue her academic endeavors while contributing to national financial policy. Her dual roles in academia and banking are expected to enrich the bank's understanding of economic complexities.
