Thursday, April 17th8.9°C
19345

Deputy governor John Murray to retire from Bank of Canada next year

OTTAWA - The Bank of Canada announced Monday that deputy governor John Murray will retire next year, the second pending departure from the central bank's upper ranks.

Murray will step down on April 30, 2014, a day before senior deputy governor Tiff Macklem is scheduled to leave.

Murray, who has been a deputy governor since in January 2008, has overseen the central bank's analysis of domestic and international economic developments.

"John has provided unwavering, top-notch intellectual leadership to the bank and its staff — myself included — for more than 30 years," governor Stephen Poloz said.

"His work has had a significant impact on central banking, not only in Canada but at the global level, as his colleagues around the world will readily attest."

The central bank said Murray played a significant role in establishing the theoretical foundations of inflation targeting and helping to refine the way in which it is implemented.

The Bank of Canada adjusts its policy interest rate with an aim to keep inflation at the two per cent midpoint of a target range of one to three per cent over the medium term.

Macklem announced earlier this month that he will leave the bank on May 1, 2014, to become dean at the Rotman School of Management at the University of Toronto.

Macklem had been widely considered the leading candidate to succeed Mark Carney as governor but the job went to Poloz, who has was been governor since June.

The Canadian Press


Read more Business News

21646


Recent Trending




Today's Market
S&P TSX14500.39+53.87
S&P CDNX998.770.80
DJIA16408.54-16.31
Nasdaq4095.516+9.291
S&P 5001864.85+2.54
CDN Dollar0.9088+0.0004
Gold1293.80-9.2999
Oil104.59+0.83
Lumber326.10-2.70
Natural Gas4.735+0.205

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.29+0.07
Cantex0.055+0.01
Anavex Life Sciences0.3750.00
Metalex Ventures0.08+0.005
Russel Metals30.66+0.11
Copper Mountain Mining2.35-0.07
Colorado Resources0.255-0.01
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.25+0.02

 
19691


20172

FEATURED Property
15695013052 McNair Road
4 bedrooms 2 baths
$395,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...


Quick and nimble

Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...

_



21641

21641


Member of BC Press Council


21188