Deputy Bank of Canada Governor Paul Beaudry is stepping down from his position this July.
Canada’s central bank said Beaudry will return to his job as an economics professor at the University of British Columbia (UBC).
In a written statement, Bank of Canada Governor Tiff Macklem said Beaudry, who was appointed in 2019, was a “crucial member” of the central bank’s governing team during a challenging period that included the COVID-19 pandemic.
The central bank said it will now begin an internal process to find a new deputy governor.
Beaudry is one of two deputy governors who oversees the Bank of Canada’s financial system activities.
He also oversees analysis of international economic developments and has served as the Bank of Canada’s G7 and G20 representative.
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