Bank Of Canada Deputy Governor Timothy Lane To Retire

Bank of Canada deputy governor Timothy Lane has announced his retirement.

Lane will leave Canada’s central bank in September of this year. He joined the Bank of Canada in 2008 after spending 20 years working at the International Monetary Fund (IMF).

Lane was appointed a deputy governor in 2009 and oversaw analysis of the Canadian economy and international economic developments.

He is expected to participate in the Bank of Canada’s next two policy rate meetings in July and September before his retirement.

The Bank of Canada's next interest rate decision is scheduled for July 13 when it will also release is updated forecast for the Canadian economy.

The central bank says its board of directors will form a selection committee to find a replacement for Lane once he officially leaves in September.