Reserve Bank of Canada (BOC) Deputy Governor Gravelle Speech may contain information about the expected change in the bank's interest rates. The Deputy Governor's responsibilities are connected with the participation in monetary policy decision making as well as with the determining of strategic decisions in the Bank's activities.
Tony Gravelle is one of the two Deputy Governors responsible for overseeing the Bank’s financial system and the operation of the Financial Markets Department. As a member of the BoC Governing board, he participates in the adoption of monetary policy decisions and the strategic planning.
Tony Gravelle was appointed Deputy Governor in October, 2019. Prior to the appointment, he was the Managing Director of the Financial Markets Department and worked as an economist in the IMF.
BoC Deputy Governor has access to the full information on the intentions of the BoC Governing Council on monetary policy. Therefore, his statements are often carefully monitored by analysts and economists.
If Gravelle's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term effect on the Canadian dollar quotes.