For Immediate Release
C.D. Howe Institute receives large gift from Board Chairman Hugh L. MacKinnon to support advancement of research in financial and monetary policy
November 13, 2023 – TORONTO – A $300,000 donation gifted to the C.D. Howe Institute (The Institute) will support the advancement of research in financial and monetary policy through the creation of a new Centre on Financial and Monetary Policy (the Centre).
The generous donation was gifted to the Institute by Hugh L. MacKinnon, CEO of Bennett Jones LLP and the Institute’s Chair of the Board of Directors. The gift will support the Centre, a new initiative that will offer deeper scholarship in the areas of financial and monetary policy. The Centre will build on the Institute’s leadership voice, visibility, and scholarly reputation in financial and monetary policy to position it uniquely in Canada to have real impact that improves Canadian living standards.
“Arriving at a time of rapid inflation, high interest rates, and after the collapse of financial institutions, Mr. MacKinnon’s generous gift will help ensure that public policy, especially in the areas of financial and monetary policy, is being designed and implemented in a way that puts Canadians first,” said Jeremy Kronick, who was appointed Director of the Centre earlier this year and is an Associate Vice President at the Institute. “As our economy evolves, so too must our data and economic models,” he added. “We are incredibly grateful for Mr. MacKinnon’s generous support in this area.”
Accompanying the Centre’s launch are two new projects: a Financial Regulatory Excellence Initiative (FREI), and the Domestic Stability Buffer Council (DSBC). The purpose of the FREI is to build on existing Institute research to ensure a modern regulatory framework, while the DSBC will provide OSFI (and others) with an independent assessment of the direction of the capital buffer in pursuit of OSFI’s mandate of contributing to public confidence in the Canadian financial system. The new Centre will also support the Institute by offering unique datasets that help provide trusted analyses to Canadians on matters of financial services and monetary policy.
“The C.D. Howe Institute is known for its leadership voice, visibility in the Canadian media, and for its scholarly reputation in financial and monetary policy,” said Duncan Munn, President of the C.D. Howe Institute. “As a think tank within a think tank, the Centre on Financial and Monetary Policy will build upon a 65-year tradition at the Institute of increasing Canadian living standards through economically sound public policy.”
A formal announcement of Mr. MacKinnon’s gift was given at the C.D. Howe Institute Directors’ Dinner with Governor of the Bank of Canada Tiff Macklem on June 8th, 2023.
For more information, please contact Jeremy Kronick, Director of the Centre on Financial and Monetary Policy and Associate Vice President, C.D. Howe Institute at jkronick@cdhowe.org, and Gillian Campbell, Communications Officer, C.D. Howe Institute at gcampbell@cdhowe.org.
Learn more about the Centre on Financial and Monetary Policy