Canada Speculates Replacement after Carney’s New Appointment

This article was last updated on April 16, 2022

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Now that the Governor of Bank of Canada, Mark Carney, is taking a unique turn to head towards his new appointment to the Bank of England, all majorly renowned Canada’s financial analysts have begun making speculations on who are the likely choices of his replacement.

Carney was appointment as the Governor of Bank of Canada in 2008, which made him the youngest central banker in the G7 of the time, and now this bold move has made him the first foreigner to be governing the Bank of England in its 318-year history. Carney’s openness and honesty, in the lengthy years of experience, towards both government and household finances has also gotten the attention of Time magazine, which named him as the 21st most-influential person in the world in 2010. Now the bigger question is about who will be filling in the big shoes vacated by Carney’s appointment, who will be the next candidate for the top job at the Bank of Canada?

TD Bank Financial Group Chief Economist, Craig Alexander mentioned on Tuesday, that “one of the minimum criteria to get the job to replace Carney is you have to understand how Ottawa works and be able to work there.” Alexander suggested the one of the most obvious choices will be to hire from within the ranks of Canada’s central bank. He added that “there is good strength at the Bank of Canada, so I’m sure the committee will look at all of the deputy governors.”

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