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The Bank of Canada has appointed Stephen Poloz as their new Bank of Canada governor.

Mr. Poloz, who up until now held the position of chief executive of Export Develoment Canada, the export credit agency, will be replacing Mark Carney, after the latter moved on to take new responsibilities as the new Bank of England governor.

According to an official statement released by the Bank of Canada; “After pursuing an exhaustive domestic and international search to find the best candidate for this important and challenging role, the Board ultimately found such an individual in Stephen Poloz,” said David Laidley, Chair of the Special Committee of the Board of Directors.

“Mr. Poloz has significant knowledge of financial markets and monetary policy issues and extensive management experience. We are confident Mr. Poloz will make an outstanding contribution to the work of the Bank and uphold its reputation as a leading central bank.”

For more, see the Canadian dollar outlook.