
Tiff Macklem
senior deputy Governor of the Bank of Canada
Education
- Graduated - Queen's University
- Bachelor's degree in economics -
- Master's degree - University of Western Ontario
- PhD IN Economics - University of Western Ontario
Overview
Richard Tiffany Macklem is a deputy governor of the Bank of Canada, Inc.(NTIOF)
Tiff Macklem, is a Canadian banker and economist who serves as the 10th and current governor of the Bank of Canada. He was also the former dean of the Rotman School of Management and had previously served as the senior
Macklem joined the Bank of Canada in 1984 where he worked in the Department of Monetary and Financial Analysis for one year. He returned to the Bank of Canada in 1989 following the completion of his graduate studies. He occupied increasingly senior positions in the Research Department (now Canadian Economic Analysis) until his appointment as Chief in January 2000.
Macklem was appointed Adviser to the Governor in August 2003. In 2003–4, he was seconded to the Department of Finance, returning to the Bank of Canada as a Deputy Governor in December 2004. He rejoined the Department of Finance as Associate Deputy Minister in 2007, in which he served until June 30, 2010.
On May 1, 2020, Macklem was named as the new governor of the Bank of Canada, succeeding Stephen Poloz. He assumed the office on June 3.
During his tenure, Macklem confronted the post-COVID-19 pandemic inflation surge. The Bank under Macklem raised its key interest rate seven consecutive times in 2022. The Bank's key interest rate jumped from 0.25 percent in March to 4.25 percent in December.
Early Life
Richard Tiffany Macklem born on June 4, 1961 in Montreal, Quebec, to Dick and Janet (Gray-Donald) Macklem. His father was the chief financial officer of Birks. His uncle, Peter Macklem, was a physician. He grew up in Westmount, where he attended Selwyn House School from grades 5 to 11. Instead of attending CEGEP afterwards, he completed one year of pre-university at Lower Canada College.
He graduated from Queen's University in 1983 with a bachelor's degree in economics, and completed a master's degree and a PhD in economics from the University of Western Ontario in 1989.
Career
- Bank of Canada - Senior deputy governor