Bank of Canada names ex-central bankers, University of Calgary professor as external experts for Covid era policy review

The Bank of Canada’s (BoC) Governing Council named three external experts to conduct an independent assessment on the central bank’s review on its Covid era exceptional actions, such as quantitative easing and extraordinary forward guidance, the BoC said in a release Thursday.

Former Bank of Spain Governor Pablo Hernández de Cos, ex-Bank of England’s Monetary Policy Committee member Kristin Forbes and Trevor Tombe, professor at the University of Calgary’s Department of Economics, form an external expert team to evaluate whether the central bank’s internal review is comprehensive and balanced.

The internal review, which will assess the effectiveness of the extraordinary actions, identify lessons learned, as well as to point out “key questions to guide future discussions should the need for exceptional policy measures arise again in the future,” will be published together with the external expert assessment near the end of this year.

Cover Photo: Bank of Canada Head Office. Photo via Bank of Canada’s Flickr