Keynote Address by Bank of Canada Deputy Governor Schembri
Deputy Governor
Bank of Canada
Program: 12:30 p.m. - 1:30 p.m.
Lawrence Schembri
Business investment is critical for the Canadian economic outlook and the formulation of monetary policy. But it has been weak in Canada and globally since the Great Recession. Now, there are growing signs that business investment intentions may be improving, albeit against a background of elevated uncertainty. Bank of Canada Deputy Governor Lawrence Schembri examines the forces influencing business investment and their implications for the Canadian economic outlook.
About the speaker:
Lawrence Schembri was appointed Deputy Governor of the Bank of Canada in 2013, serving as one of two deputy governors responsible for overseeing the Bank's analysis and activities to promote a stable and efficient financial system. In 2016, he became responsible for overseeing the Bank's analysis of domestic economic developments. As a member of the Bank's Governing Council, he shares responsibility for decisions with respect to monetary policy and financial system stability, and for setting the strategic direction of the Bank.
Born in Toronto, Ontario, Mr. Schembri received a Bachelor of Commerce degree from the University of Toronto in 1979, an MSc in Economics from the London School of Economics and Political Science in 1980, and a PhD in Economics from the Massachusetts Institute of Technology in 1985. After completing his PhD, Mr. Schembri was an assistant professor and, later, associate professor of economics at Carleton University until 2001.
Mr. Schembri joined the Bank in 1997 as a visiting Research Advisor in what is now the International Economic Analysis Department. In 2001, he was appointed Research Director in the same department and became Chief of the department in 2005. In 2010, he was appointed Advisor to the Governor, with responsibilities for financial stability analysis and coordinating the Bank's contribution to the Financial Stability Board. His published research has focused on exchange rate and monetary theory and policy in open economies, the international monetary system and financial stability.
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