OTTAWA, ONTARIO — The Bank of Canada is pleased to announce that Université de Sherbrooke has won the seventh annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council. The winners were announced following the final round on Saturday, February 5.

Five teams competed in the final round, each one giving a virtual presentation on the economic outlook for Canada and making a monetary policy recommendation to a panel of senior central bank officials.

The team from University of Alberta finished in the first runner-up spot. The other finalists, in no particular order, were the teams from Carleton University, University of Guelph and the University of Toronto (St. George Campus).

The competition began on November 15, 2021 with a first round of presentations by video conference; more than 100 students from 22 Canadian universities participated. On November 23, five teams were selected to compete in the final round.

The Governor’s Challenge invites undergraduate students in economics and finance to develop a deeper understanding of the Canadian economy and the Bank’s role in it. Since the first competition, over 40 participants have joined the Bank.