Economics
G-7 Governments Not Playing Favorites as Central Banks Revamped
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It’s not paying to be either an insider or the favorite when it comes to landing the top job at a Group of Seven central bank.
In naming Stephen Poloz the next governor of its central bank yesterday, Canada bypassed Tiff Macklem, the bank’s current deputy head and the pick of economists surveyed by Bloomberg News. The appointment came just over five months after Bank of Canada Governor Mark Carney agreed to run the Bank of England as the U.K. government overlooked Paul Tucker, a three-decade veteran of the bank and the bookmakers’ bet.