UPDATE 3-Canada hands reins of central bank to crisis-era specialist Macklem [Reuters]
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Source: Reuters
UPDATE 3-Canada hands reins of central bank to crisis-era specialist Macklem (Updates throughout, adds comments and details) By Kelsey Johnson and Steve Scherer OTTAWA, May 1 (Reuters) - Canada on Friday tapped Tiff Macklem, an experienced central banker who has been a leading voice in the country for the transition toward a green economy, as the Bank of Canada’s 10th central bank governor. Macklem, a former senior deputy at the bank, is taking over for Stephen Poloz, who is retiring next month, at a time when the Canadian economy is headed for one its worst-ever economic slumps due to COVID-19 and low oil prices. “He was one of Canada’s leading economic stewards during the 2008 financial crisis, expertise that will serve Canada well as we work to deal with the COVID-19 crisis,” Finance Minister Bill Morneau said when he announced the appointment. Macklem had been seen by some market observers as a major contender for the role, particularly if the economy soured, because of his strong
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