The Bank of Canada has selected two new deputies for full-time positions on its rate-setting governing council.
Marc-Andre Gosselin, who has worked at the bank since 1999, will "oversee analysis of domestic economic developments" and join council in May. Nicolas Vincent, will join the council full-time in August. Since 2023, he's served as a so-called external deputy governor in a part-time role.
Vincent will "oversee the analysis of international economic developments and serve as the bank's G-7 and G-20 deputy," and the bank said it will "launch a recruitment process" to find another outsider to fill the external position on council.
The appointments fill vacancies left by Sharon Kozicki, who will retire in July, and Rhys Mendes, who was the first non-white member of governing council and is departing this month.
At the end of 2024, the central bank expanded its rate-setting council to seven people, including two so-called external deputy governors.
The appointments increase the membership of council members from the French-speaking province of Quebec. Vincent was born in Trois-Rivieres, and Gosselin, like Governor Tiff Macklem, was born in Montreal.
Gosselin has co-authored multiple staff research papers with the central bank, including on the relationship between earnings calls and the output gap and inflation. He co-wrote a paper titled "Exploring the potential benefits of inflation overshooting" in 2021.
