Stephen Poloz will replace Mark Carney, who is stepping down on June 1.
Tiff Macklem is currently Carney’s right-hand man as the Senior Deputy Governor at the BOC and was widely seen as the favorite but he was passed over. Poloz was seen as the second-most-likely candidate and has been the head of Export Development Canada (a government finance agency) for the past two years.
Some bio:
Mr. Poloz joined Export Development Canada in 1999, serving as chief economist. He took on an additional role, senior vice-president, corporate affairs, in 2004. In 2008, he was promoted again to senior vice-president, financing. Prior to joining EDC, Mr. Poloz spent three years with BCA Research in Montreal and 14 years with the Bank of Canada. He has a PhD in economics from the University of Western Ontario.
The market firmly sees the Bank of Canada on hold for the next 12 months.
Stephen Poloz
