Article

Gerald Keith Bouey

Published Online July 23, 2013

Last Edited December 15, 2013

Gerald Keith Bouey, banker (born 2 April 1920 in Axford, Saskatchewan; died 6 February 2004 in Ottawa, Ontario). He became governor of the BANK OF CANADA in Feb 1973 and guided the country's MONETARY POLICY through the inflationary difficulties of the early 1980s.

Gerald Keith Bouey

Gerald Keith Bouey, banker (born 2 April 1920 in Axford, Saskatchewan; died 6 February 2004 in Ottawa, Ontario). He became governor of the BANK OF CANADA in Feb 1973 and guided the country's MONETARY POLICY through the inflationary difficulties of the early 1980s.

A quiet man, Bouey emerged from wartime service in the RCAF and from university education at Queen's to join the Bank of Canada in 1948. He succeeded Louis RASMINSKY as governor in 1973, turned the bank's policy in monetarist directions, and struggled to control interest rates at the beginning of the 1980s.

Many disagreed with his policy prescriptions, but few doubted his integrity and determination. He became a Companion of the Order of Canada in 1987, the year he retired from the Bank of Canada. Bouey has since been the Chairman of the Ontario Teachers Pension Plan Board.