Rhys Mendes served as Deputy Governor of the Bank of Canada from 2023 to 2026. As a member of the Bank’s Governing Council, he shared responsibility for decisions on monetary policy and financial system stability. He oversaw the Bank’s economic and financial research and its analysis of international economic developments. He also served as Canada’s G7 and G20 central bank deputy, driving the central bank policy agenda for Canada’s 2025 G7 presidency.
From 2021 to 2023, Mr. Mendes was on secondment to the Department of Finance as Assistant Deputy Minister for Economic Policy. Over the course of his career at the Bank of Canada he held a series of increasingly senior positions, and he played a central role in successive renewals of Canada’s inflation-targeting framework.
Mr. Mendes holds a PhD and an MA in economics from the University of Toronto and a BA from York University.