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New BOC Governor Tiff Macklem seen...........>

CANADA: New BOC Governor Tiff Macklem seen providing continuity when he takes
over for June 3 meeting.
*"The new face at the top of the Bank of Canada pyramid will be one that's well
recognized in the corridors of the central bank, and unlikely to represent a
major change in the institution's policy stance": CIBC's Avery Shenfeld. Macklem
helped write the BOC's inflation framework, so less likely to overhaul.
*"We doubt the change will materially affect the way the Bank approaches
monetary policy," Stephen Brown of Capital Economics said in research note. He
will have challenge in winding down BOC's balance sheet at some point.
*"A Bank helmed by Macklem will not depart radically from the status quo":
JPMorgan's Silvana Dimino.

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