Louis Rasminsky

Louis Rasminsky
Louis Rasminsky
Born	Template:Birth date; Montreal, Quebec, Canada
Died	September 15, 1998 (aged 90)
Occupation	Economist
Known for	Third governor of the Bank of Canada (1961–1973)

Louis Rasminsky (February 1, 1908 – September 15, 1998) was a prominent Canadian economist who held the position of the third governor of the Bank of Canada between 1961 and 1973. He followed James Elliott Coyne in this role and was succeeded by Gerald Bouey.

Originating from Montreal, Quebec, and raised in Toronto, Rasminsky completed his education at Harbord Collegiate Institute before pursuing higher studies at the University of Toronto and the London School of Economics. His professional journey began in 1930 at the Economic and Financial Organization of the League of Nations, where he specialized in monetary and banking matters. In 1940, he joined the Bank of Canada, advancing to executive assistant to the Governors from 1943 until 1954, and then becoming Deputy Governor in 1955.

Between 1946 and 1962, Rasminsky represented Canada as its executive director at the International Monetary Fund, while simultaneously serving in a comparable capacity at the International Bank for Reconstruction and Development from 1950 to 1962.

In acknowledgment of his significant impact on international economics and central banking, Rasminsky was named a Companion of the Order of Canada in 1968. That year, he also received the Outstanding Achievement Award from Public Service Canada. Notably, he was the first Canadian to earn an honorary degree from Yeshiva University and was later honored with honorary doctorates from Carleton University, Trent University, the University of British Columbia, and Concordia University (1975).

During the 1960s, Rasminsky encountered religious discrimination when the Rideau Club in Ottawa initially denied him membership due to his Jewish background; however, following intervention by Prime Minister Lester B. Pearson, he was eventually granted admission.

The historian Bruce Muirhead received the Joseph and Fay Tanenbaum Award for Canadian Jewish History for his biography titled Against the Odds: The Public Life and Times of Louis Rasminsky (University of Toronto Press, 1999).

Rasminsky's daughter, Lola Rasminsky, is the founder and director of Toronto's Avenue Road Arts School. His son, Dr. Michael Rasminsky, practiced neurology at Montreal General Hospital.

References

Bruce Muirhead, Against the Odds: The Public Life and Times of Louis Rasminsky, University of Toronto Press, 1999, ISBN 9780802006295

External links

Order of Canada Citation
Louis Rasminsky at The Canadian Encyclopedia