UPDATE 2-Canada hands reins of central bank to crisis-era specialist Macklem [Reuters]
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Source: Reuters
UPDATE 2-Canada hands reins of central bank to crisis-era specialist Macklem (Adds comments from Macklem and analysts,) By Kelsey Johnson and Steve Scherer OTTAWA, May 1 (Reuters) - Canada on Friday named Tiff Macklem, a former senior deputy at the Bank of Canada, as its next central bank governor, who brings familiarity to the job as well as an interest in the transition to a green economy. Still, the announcement, made by Finance Minister Bill Morneau, surprised some in the market who had expected current senior deputy governor Carolyn Wilkins to take over from outgoing Governor Stephen Poloz. Macklem is taking charge at a time when the Canadian economy is headed for one its worst crisis due to COVID-19 pandemic and low oil prices. Macklem, who has recently been a leading voice for a shift toward a low-carbon economy, told reporters on Friday that climate change is a major force in the economy and it will affect prices. He also said that the economy will not snap back to normal from
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