Another senior executive is leaving the Bank of Canada. The central bank announced today that deputy governor John Murray will retire on April 30, 2014.
Murray joined the BoC in 1980 and was appointed deputy governor in January 2008.
His retirement follows the departure of senior deputy governor Tiff Macklem, which was announced earlier this month. (See Investment Executive, Senior deputy governor leaving BoC for academia, December 5, 2013.)
Murray is responsible for overseeing the bank’s analysis of domestic and international economic developments and participates in its governing council, which carries out monetary policy.
The bank says that, during his career, “Murray played a significant role in establishing the theoretical foundations of inflation targeting and helping to refine the way in which it is implemented. He also has been instrumental in forming the bank’s views on international issues and communicating them in forums such as the G7, the G20, the International Monetary Fund, the Bank for International Settlements, and the Organization for Economic Co-operation and Development.”
The BoC says that the process to appoint Murray’s replacement will be undertaken in early 2014.