Important points:
- The Governor of the Bank of Canada is the Bank's chief executive officer, and, as such, has control and full authority over the business of the Bank. The Governor also presides over the Board of Directors.
- The Governor of a country's central bank must have a thorough understanding of financial markets and the economy and possess wide experience in international finance. There are eligibility requirements laid down in the Bank of Canada Act, including a requirement that the Governor must be a Canadian citizen.
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The Governor is appointed for a fixed term of seven years.
If a profound disagreement on the conduct of monetary policy were to occur, the Minister of Finance, with the Cabinet's authorization, can issue a written directive to the Governor specifying a change in policy. No directive has ever been issued.
So once you get it, you are pretty safe.
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