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MNI BRIEF: BOC's Lane Announces Retirement Just After Schembri

(MNI) Ottawa
OTTAWA (MNI)

Bank of Canada Deputy Governor Tim Lane will retire in September, an announcement coming just after Larry Schembri wrapped up his own career at the central bank.

Lane's retirement takes effect Sept. 16, following the Bank's Sept. 7 rate decision, according to a statement. He has served as a deputy since 2009 following his arrival from the IMF, and the search for a replacement begins right away. One of his other roles besides helping set interest rates was leading work on financial technology including a potential central bank digital currency.

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Bank of Canada Deputy Governor Tim Lane will retire in September, an announcement coming just after Larry Schembri wrapped up his own career at the central bank.

Lane's retirement takes effect Sept. 16, following the Bank's Sept. 7 rate decision, according to a statement. He has served as a deputy since 2009 following his arrival from the IMF, and the search for a replacement begins right away. One of his other roles besides helping set interest rates was leading work on financial technology including a potential central bank digital currency.

Keep reading...Show less