Bank of Canada names Stephen Poloz as governor

Stephen Poloz, photo by Bank of Canada
Bank of Canada

The Bank of Canada has announced Stephen Poloz as the surprise replacement for outgoing governor Mark Carney, who joins the Bank of England next month.

Poloz, who will begin his seven-year term on June 3, worked in the Bank of Canada's research department for 14 years between 1981 and 1995, and most recently served as the head of Export Development Canada (EDC), a government agency that provides financial and risk management advice to Canadian exporters.

His appointment surprised observers, as

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