OTTAWA, ONTARIO — The Bank of Canada has announced the five finalist teams in the 2021–22 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council.

Congratulations to:

• Carleton University
• Université de Sherbrooke
• University of Alberta
• University of Guelph
• University of Toronto – St. George campus

With special mention to the runner up teams:

• University of British Columbia
• University of Ottawa
• University of Toronto – Mississauga campus

The first round of this year’s competition took place November 15–16, 2021, with presentations delivered by video conference. More than 100 students from 22 Canadian universities participated. The final round will take place Saturday, February 5, 2022, by video conference.

Working in teams, students provided analysis and forecasts on developments in the economy. They then presented a monetary policy recommendation to keep inflation low and stable, in line with the Bank’s inflation target of 2 per cent. The judges evaluated teams on the substance of their analysis, the quality of their presentation and evidence of strong teamwork.

The team from the University of Alberta won last year’s competition.