OTTAWA, ONTARIO — The Bank of Canada has announced the five finalist teams in the 2022–23 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
• St. Francis Xavier University
• Université de Sherbrooke
• University of Alberta
• University of British Columbia

With special mention to the runner-up teams:

• University of Ottawa
• University of Toronto – St. George campus
• University of Guelph

The first round of this year’s competition took place November 15 and 16, 2022. More than 100 students from 19 Canadian universities participated. The final round will take place February 3 and 4, 2023.

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 Université de Sherbrooke won last year’s competition.