A Note from our Chief Economist


It is often said that if you want to throw a fun party, never invite economists!

If you don’t know why, just sit through an advance econometrics class and it’ll become clear. However, I work with a group of economists who break the mold. They’re inquisitive, energetic and wonderful communicators. I oversee our forecasting group for Canada, the U.S. and international economies. As a result, there is no such thing as a boring day, especially during these turbulent times. Part of what makes this career exciting and interesting is having the opportunity to work extensively with colleagues across TD from diverse functional areas. At the same time, I spend a significant amount of time meeting with external TD clients, addressing their economic concerns. In many respects, I have the benefit of a career that bridges the life of business and academics. TD Bank supports economic research within an array of topics, from traditional economic forecasting to public policy initiatives on women labour market issues. I started my career as an economist in 1998, and joined TD after a near 4-year stint working in capital markets providing economic analysis to foreign exchange, money market and bond desks. 

Welcome to our website and feel free to download and circulate any articles of interest. As you'll see, the research is broad reaching in a global economy where the field is wide open!

Beata Caranci

Chief Economist and Senior Vice-President of TD Bank Group


Leadership at TD Economics

Beata Caranci

Beata Caranci

Beata Caranci is the Chief Economist for TD Bank Group. She joined the bank in 2003 and leads an agile team of economists, tasked with delivering analysis and forecasts for TD's planning process, as well as the regulatory stress test exercises. The team delivers on a wide scope of research, covering the Canadian, U.S., and global economies. Beata serves on a number of committees within TD, including the retirement investment committee, as well as being a member of C.D Howe's Monetary Policy Council and the American Bankers Economic Advisory Council.

Beata is a passionate supporter of TD’s diversity initiatives and has dedicated more than a decade to researching and driving awareness among Canadian policymakers on the labour market friction experienced by women. Her research report, “Get on Board Corporate Canada,” helped influence the Ontario Securities Commission’s rule amendments on disclosure of women on boards and in senior management. Recently, Beata has focused on offering policy prescriptions to counter systemic biases within the educational and workplace environments that are impacting women in STEM fields.

Beata holds a Master’s Degree in Business Economics. Prior to joining TD, she worked nearly four years on a trading floor providing economic analysis to foreign exchange, money market and bond desks.

Derek Burleton

Derek Burleton

Derek Burleton is Vice President and Deputy Chief Economist for TD Bank Group.  In his role, he leads a team of economists that provides leading analysis on the Canadian and U.S. economies.  Each year, he travels extensively across the Canada and the U.S., speaking at more than 75 events on economic and financial developments.  As a respected commentator, Derek has been quoted by many media outlets – including the London Financial Times and the Economist.  He also is frequently interviewed on the radio and television.

Derek maintains a strong interest in public policy issues, and has written substantive reports on health care sustainability, education and immigration reform.   He participates in a number of advisory and steering committees both internal and external to TD Bank Group and currently serves on the Board of the Toronto Association of Business Economists (TABE). 

Derek Burleton received his Bachelor of Commerce from Queen’s University and an M.Sc. in Economics from the London School of Economics.   Derek has more than 20 years of experience as an economist in the financial industry.