By Canadian Press

Canadian Press NewsAlert: Morneau names Tiff Macklem new Bank of Canada governor

May 1, 2020 | 6:48 AM

OTTAWA — Finance Minister Bill Morneau is naming Tiff Macklem the new governor of the Bank of Canada.

The dean of the business school at the University of Toronto is a former senior deputy governor of the bank.

The bank controls the country’s money supply, trying to support economic growth and stability while keeping inflation low.

Its governor’s statements about the economy and the financial system set trends and move markets.

Current governor Stephen Poloz’s seven-year term is expiring in June.

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