Update: The Finance Minister announced a press conference at 4 pm ET (2000 GMT). Still no leak on the name, I’m impressed at how well the government can keep a secret.
A decision on the new Bank of Canada governor is overdue and Scotiabank is saying it could today.
Deputy Governor Tiff Macklem is the favorite and I think it’s him because he seemed smug when he was asked about it at the last BOC press conference.
Even if it’s a someone else, expect little Canadian dollar reaction. Taking over the BOC at the moment is like a 747 captain handing the controls to his co-pilot on a trans-Atlantic flight. There’s nothing to do but hold the wheel and make sure it stays on course.
Tiff Macklem
