BOC Governor Stephen Poloz to step down in June 2020, USD/CAD consolidates gains
|Stephen Poloz, Governor of the Bank of Canada, will be stepping down next year. He will not seek a second term after his term expires on June 2, 2020. Poloz has been serving a seven-year term since 2013. The Ottawa-based institution has begun searching for a replacement.
Carolyn Wilkins, the Deputy Governor, is one of the candidates to lead the bank. Other candidates may come from within or from outside the BOC.
USD/CAD is trading around 1.3250, consolidating its gains after Canada's poor jobs report. The nation lost over 70,000 positions in November, worse than expected.
Earlier this week, Poloz presided over the BOC's decision to leave rates unchanged, where the bank expressed optimism over the economy.
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