Bank of Canada governor set to retire this fall

Bank of Canada Deputy Governor Timothy Lane will retire on Sept. 16.

The central bank made the announcement on June 22 and added Lane will participate in both the July and September policy rate decisions before retiring this fall.

Lane joined the bank in August 2008 as an advisor to the governor following a 20-year career at the International Monetary Fund, an international financial institution consisting of about 190 countries, including Canada. He became the Bank of Canada’s deputy governor in February 2009 and during his tenure oversaw the analysis of the Canadian economy, various financial markets and other international economic developments. Since 2018, he has overseen the bank’s work on banking and payments plus its research into currency and financial technology, including central bank digital currencies.

“During my time at the bank – from the global financial crisis through the pandemic and its repercussions – Canada has faced an extraordinary series of challenges which call for clear thinking and strong leadership,” said Lane. “I’ve been proud to belong to the bank through this period and had the privilege of working with such a talented team.”

The process to appoint a new deputy governor has already started. The bank’s board of directors will form a selection committee to conduct the search and selection process with the assistance of a global executive recruitment firm.

Leave a Reply

Canadian Coin News


Canadian Coin News is Canada's premier source of information about coins, notes and medals.

Although we cover the entire world of numismatics, the majority of our readers are Canadian, and we concentrate on the unique circumstances surrounding collecting in our native land.

Send Us Your Event

Running an event? Send it to us and we will display it on Canadian Coin News!

Submit Event →

Subscribe To 26 Issues For Just $59.99/year

Subscribe today to receive Canada's premier coin publication. Canadian Coin News is available in both paper and digital forms.

Subscribe Now

We acknowledge the financial support of the Government of Canada through the Canada Periodical Fund of the Department of Canadian Heritage.