Nov 26, 2012

By Michael Kramer

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The man Time magazine named one of the most influential policy-makers in the world is leaving the Bank of Canada.

On July 1st, bank governor Mark Carney will become the first foreigner to head the Bank of England in its 318-year history.

Senior deputy governor Tiff Macklem, who Carney recruited from the Finance Department, is considered the front-runner to succeed him.

The central bank’s governor says the Canadian system works very well and has been tested under the biggest economic and financial shock we’ll ever see in our lifetime.

Carney says he’s going to where the challenges are greatest because he’s confident that the strengths are as deep and as broad as they are here in Canada.

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