OTTAWA (Reuters) - A new governor for the Bank of Canada to replace Mark Carney will be named soon, but not necessarily by the end of April as the government initially indicated, Finance Minister Jim Flaherty said on Monday.
“You’ll recall that I said we’re aiming at about the end of April and we’re about the end of April and the process is drawing to a close,” Flaherty told reporters.
Flaherty had told Reuters on April 12 it would be optimal to have the process finished by the end of the month.
Asked whether the governor would be named by the end of business on Tuesday, Flaherty replied: “No, don’t hold me to that. We’re not quite at the end of the process but we’re near the end of the process so it won’t be too long,” he said.
Carney is stepping down on June 1 to run the Bank of England, starting in July.
The second-in-command at the central bank, Tiff Macklem, was unanimously viewed as his most likely successor in a Reuters poll on April 10. Macklem is highly regarded for his academic credentials, crisis management skills and financial regulation expertise. He has spent most of his 25-year career at the central bank but also served under Flaherty at the finance ministry during the global financial crisis.
Speculation has swirled in Ottawa, however, that the government, which has the final say on the appointment, may favor an external candidate such as Stephen Poloz, head of the export credit agency, or Darrell Duffie, a Stanford University professor.
Reporting by Louise Egan, writing by David Ljunggren; Editing by Janet Guttsman and Dan Grebler