Finance Minister Bill Morneau has appointed Tiff Macklem, the former senior deputy governor of the Bank of Canada, to take over the top job at the central bank as it navigates the uncertainty of a pandemic-driven recession. Macklem is currently the dean of the Rotman School of Management in Toronto, but had spent decades with the Bank of Canada before starting that appointment. He was widely expected to win the contest for bank governor in 2013, but was beaten out by Stephen Poloz, who was then CEO of Export Development Canada. Governor of the Bank of Canada Stephen Poloz announced last December that he was stepping down. WATCH | Morneau announces Tiff Macklem as governor of the Bank of Canada:

Source: CBC News May 01, 2020 04:09 UTC