Tiff Macklem has become the new governor of the Bank of Canada, Finance Minister Bill Morneau announced on Friday
TORONTO (Pakistan Point News / Sputnik - 01st May, 2020) Tiff Macklem has become the new governor of the Bank of Canada, Finance Minister Bill Morneau announced on Friday.
"I am pleased to announce the next Governor of the Bank of Canada will be Tiff Macklem," Morneau told reporters.
Macklem, who will assume the role effective June 3, said his focus was continuing the lineage of high standards of Canada's central bank.
The appointment comes at a tumultuous time for Canada as the country struggles to mitigate the fiscal crisis caused by measures implemented to address the novel coronavirus (COVID-19) pandemic.
Macklem is the Dean of the University of Toronto's Rotman School of Management and has more than 15 years of experience at the Bank of Canada, including at the position senior deputy governor.
Macklem replaces outgoing governor Stephen Poloz, who announced in December that he would not seek a second seven-year term.
Poloz assumed the governorship in June 2013, replacing Mark Carney, who assumed the role of governor of the Bank of England.
