Profile & Biography Tiff Macklem

Real Name Tiff Macklem
Age 57yrs
Birthplace Montreal Quebec, Canada
Profession Banking
State Quebec
Public asset & Salary  52,780 USD

Who Is Tiff Macklem

Tiff Macklem is the current Dean of the Rotman School of Management and was appointed  the governor of the Bank Of Canada by 3rd of June 2020.

Until his appointment, he served as senior deputy governor of the Bank of Canada, sharing responsibility with the governor and four deputy governors for monetary policy and the Bank’s role in promoting financial stability.

Early Life & Education Of Tiff Macklem

 

Born into the family of the chief financial officer of Birks Montreal Quebec in 1961, Tiff grew up in Westmount there he attended Selywn House School

Tiff obtained his bachelor’s degree in economics from Queen’s University in 1983, and completed a master’s degree and a PhD in economics from the University of Western Ontario.

Tiff ever since he graduated from the University  and ventured into the banking world has  played a leading role in efforts to ensure stable financial systems worldwide through the Financial Stability Board.

Degrees:  –         Master’s and PhD in economics at the University of Western Ontario
Email:      –          Send an email to Tiff Macklem

Career & Banking Positions

Tiff macklem of rotman and the als ice bucket challenge


Before  joining Rotman, Mr. Macklem served as Senior Deputy Governor of the Bank of Canada from July 2010 until May 2014. In this capacity, he was the Bank’s Chief Operating Officer and a member of the Board of Directors of the Bank. Mr. Macklem’s duties included acting for the Governor, overseeing strategic planning and coordinating the Bank’s operations, sharing responsibility for the conduct of monetary policy as a member of the Bank’s Governing Council, and participating in fulfilling the Bank’s responsibilities for promoting financial stability.

Tiff Macklem started his banking career with the Bank of Canada in 1984 where he worked in the Department of Monetary and Financial Analysis for one year.

In 1989 he returned to the Bank of Canada following the completion of his studies and graduation he  occupied increasingly senior positions in the Research Department (now Canadian Economic Analysis) until his appointment as Chief in January 2000.

He has also taken the position of the Bank’s chief operating officer and a member of its board of directors, overseeing strategic planning and coordinating the Bank’s operations.

 

On August 2003 and 2004 Tiff Macklem took over the position Adviser to the Governor & the Department of Finance then returned back to the Bank of Canada as deputy Governor on December of 2004.

 

On 1 July 2010 Tiff Macklem was appointed Senior Deputy Governor for a term of seven years beginning . In his position, Macklem is the Bank of Canada’s Chief Operating Officer and a member of the Bank of Canada’s Board of Directors. Macklem is also responsible for overseeing strategic planning and coordinating of the Bank of Canada’s operations, sharing responsibility for the conduct of monetary policy as a member of the Bank of Canada’ Governing Council, and participating in fulfilling the Bank of Canada’s responsibilities for promoting financial stability. Macklem also chairs the Standing Committee on Standards Implementation at the Financial Stability Board.

As the Senior Deputy Governor and number two at the Bank of Canada, Macklem was widely expected to succeed as BOC Governor with the appointment of Mark Carney as Governor of the Bank of England. However Macklem was passed over in favor of Stephen Poloz, becoming the third senior deputy governor in a row, after Malcolm Knight and Paul Jenkins, not to be chosen as the governor of the BOC. Macklem was considered a successor to former BOC Governor David Dodge and widely respected in the BOC and worldwide, though being a career civil servant he lacked the private sector experience that Carney and Poloz possessed. Some commentators suggested that Macklem would soon leave the BOC after being snubbed twice for the top position.

Read Also:  Carolina Larriera

Articles Written By Tiff Macklom

Statement by Tiff Macklem on his announcement as New GovernorMay 1, 2020
Opening Statement Tiff Macklem Ottawa, Ontario
Governor-designate Tiff Macklem applauds Stephen Poloz’s leadership of the Bank and explains how much he looks forward to returning to the Bank as its next Governor.
Content Type(s): Press, Speeches

Flexible Inflation Targeting and “Good” and “Bad” Disinflation – February 7, 2014
Remarks Tiff Macklem John Molson School of Business Concordia University Montréal, Quebec
Senior Deputy Governor Tiff Macklem discusses flexible inflation targeting and “good” and “bad” disinflation.
Content Type(s): Press, Speeches

Risk Management and Financial Reform  – November 18, 2013
Remarks Tiff Macklem Autorité des marchés financiers Montréal, Quebec
Senior Deputy Governor Tiff Macklem discusses risk management and global financial reform.
Content Type(s): Press, Speeches

 

$5 and $10 Bank Note Issue  –  November 7, 2013
Remarks Tiff Macklem Vancouver Train Station Vancouver, British Columbia
Senior Deputy Governor Tiff Macklem announces the entry into circulation of the new $5 and $10 polymer bank notes.
Content Type(s): Press, Speeches

 

Global Growth and the Prospects for Canada’s Exports –  October 1, 2013
Remarks Tiff Macklem Economic Club of Canada Toronto, Ontario
Senior Deputy Governor Tiff Macklem discusses global growth and the prospects for Canada’s exports.
Content Type(s): Press, Speeches

Regearing Our Economic Growt –  January 10, 2013
Remarks Tiff Macklem Queen’s University – W. Edmund Clark Distinguished Lecture Kingston, Ontario
Senior Deputy Governor Tiff Macklem discusses regearing the Canadian economy for sustained growth.
Content Type(s): Press, Speeches

A Measure of Work – October 4, 2012
Remarks Tiff Macklem Winnipeg Chamber of Commerce Winnipeg, Manitoba
Senior Deputy Governor Tiff Macklem discusses labour markets in Canada.
Content Type(s): Press, Speeches

 

Promoting Growth, Mitigating Cycles and Inequality: The Role of Price and Financial Stability – March 12, 2012
Remarks Tiff Macklem Brazil-Canada Chamber of Commerce São Paulo, Brazil
Senior Deputy Governor Tiff Macklem discusses how price and financial stability help promote growth and mitigate economic cycles and inequality.
Content Type(s): Press, Speeches

Raising the House of Reform  – February 7, 2012
Remarks Tiff Macklem Rotman Institute for International Business Toronto, Ontario
Senior Deputy Governor Tiff Macklem discusses the importance of pressing ahead with financial reforms despite the weak global recovery.
Content Type(s): Press, Speeches

Managing Risks in the New Global Economic Landscape –  September 27, 2011
Remarks Tiff Macklem National Insurance Conference of Canada Vancouver, British Columbia
Senior Deputy Governor Tiff Macklem discusses some of the challenges facing the private and public sectors as they manage risk in the new global economic landscape.
Content Type(s): Press, Speeches

And many more….

Bank Publications By Tiff  Macklem

Information and Analysis for Monetary Policy: Coming to a Decision

August 20, 2002

This article outlines one of the Bank’s key approaches to dealing with the uncertainty that surrounds decisions on monetary policy: the consideration of a wide range of information from a variety of sources. More specifically, it describes the information and analysis that the monetary policy decision-makers—the Governing Council of the Bank of Canada—receive in the two or three weeks leading up to a decision on the setting of the policy rate—the target overnight interest rate. The article also describes how the Governing Council reaches this decision.

Content Type(s): Publications, Bank of Canada Review Article Topic(s): Monetary and financial indicators, Monetary policy framework, Monetary policy implementation

November 18, 2001

A New Measure of Core Inflation

Bank of Canada Review – Autumn 2001 Tiff Macklem

While the Bank of Canada’s inflation-control target is specified in terms of the rate of increase in the total consumer price index, the Bank uses a measure of trend or “core” inflation as a short-term guide for its monetary policy actions. When the inflation targets were renewed in May 2001, the Bank announced that it was adopting a new measure of core inflation. This measure excludes the eight most volatile components of the CPI and adjusts the remaining components for the effect of changes in indirect taxes. In this article, the author discusses the definition of the new measure of core inflation and describes some of its advantages relative to the previous measure. He notes that the new measure has a firmer statistical basis, has a better correspondence with economic theory, and does a better job of predicting future changes in overall inflation. While the new measure has these advantages, the Bank will continue to monitor a broad range of indicators when assessing the likely future path for inflation.

Content Type(s): Publications, Bank of Canada Review Article Topic(s): Inflation targets

December 11, 1997

Price stability, inflation targets, and monetary policy: Conference summary

Bank of Canada Review – Winter 1997-1998 Tiff Macklem

This article summarizes the proceedings of a conference hosted by the Bank of Canada in May 1997. The first conference held by the Bank on this subject was in 1993, two years after the introduction of inflation targeting in Canada. The 1997 conference revisited many of the analytic issues related to price stability that had been examined at the first conference, while also considering several additional questions. This time, with the extension of inflation-control targets beyond 1998 under consideration, particular emphasis was placed on the role and design of those targets. The conference also featured a round-table discussion among practitioners of monetary policy in three inflation-targeting countries—New Zealand, Sweden, and the United Kingdom. Their remarks, which focussed on the experience with inflation targets, bring out very clearly the common challenges facing monetary policymakers in open economies.

Content Type(s): Publications, Bank of Canada Review Article Topic(s): Monetary policy framework

May 13, 1997

Capacity constraints, price adjustment, and monetary policy

Bank of Canada Review – Spring 1997 Tiff Macklem

The short-run Phillips curve describes a positive short-run relationship between the level of economic activity and inflation. When the level of demand in the economy as a whole runs ahead of the level of output that the economy can supply in the short run, price pressures increase and inflation rises. This article reviews the origins of the short-run Phillips curve with particular emphasis on the long-standing idea that the shape of this curve may be non-linear, with inflation becoming more sensitive to changes in output when the cycle of economic activity is high than when it is low. This type of non-linearity in the short-run Phillips curve, which is typically motivated by the effects of capacity constraints that limit the ability of the economy to expand in the short run, has recently attracted renewed attention. The article surveys recent research that finds some evidence of this type of non-linearity in the Phillips curve in Canada and considers the potential implications for monetary policy.

Content Type(s): Publications, Bank of Canada Review Article Topic(s): Inflation and prices, Potential output, Transmission of monetary policy

December 8, 1994

Some macroeconomic implications of rising levels of government debt

Bank of Canada Review – Winter 1994-1995 Tiff Macklem

The level of government debt in Canada relative to gross domestic product has risen steadily since the mid-1970s. Canada has not been alone in experiencing rising government indebtedness, but in comparison to other countries, Canada’s debt load is now distinctly on the high side. The author reviews some of the effects of rising government debt levels on macroeconomic performance and provides some calculations aimed at illustrating their possible long-run impact on the Canadian economy. His analysis, which is based on a model of the Canadian economy used at the Bank of Canada, suggests that higher levels of government debt reduce both the level of output and the share of output that is available for domestic consumption. The central policy implication is that there are substantial benefits to halting the rise in government debt and thus preventing further erosion of consumption opportunities.

Content Type(s): Publications, Bank of Canada Review Article Topic(s): Fiscal Policy, Recent economic and financial developments