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Globe says CIBC, rivals see BOC mull indigenous issues

2021-04-28 07:50 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)

The Globe and Mail reports in its Wednesday edition that the Bank of Canada is looking to improve how it researches and analyzes economic issues relating to indigenous communities as part of an effort with the central banks of New Zealand and Australia. The Globe's Mark Rendell and Wendy Stueck write that the three monetary authorities announced a Central Bank Network for Indigenous Inclusion on Tuesday. The aim of the "voluntary network" is to give central bankers a place to share ideas about improving indigenous recruitment and inclusion in their own organizations, and to share "best practices" for gathering and analyzing data related to indigenous economic issues. BOC Governor Tiff Macklem said: "The Bank of Canada wants to better understand the indigenous economy and the obstacles and opportunities that Canada's indigenous peoples face. Our membership in this network provides us with an invaluable opportunity to learn from each other, to forge stronger bonds with indigenous communities and contribute to making our workplaces and policies more inclusive." The BOC said about 1,800 employees or 1.5 per cent bank staff self-identify as indigenous. The Globe says the mandate of the new network is limited.

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