Event Recap

The Canadian Approach to Foreign Reserve Management

Timothy Lane (Bank of Canada)

Details

February 6, 2019 8:45 AM to 9:45 AM
PIIE Webcast, Washington, DC

Event Summary

Timothy Lane, deputy governor of the Bank of Canada, discussed “The Canadian Approach to Foreign Reserve Management” at the Peterson Institute for International Economics on February 6, 2019.

Canada decided more than 20 years ago to stop systematically using its foreign reserves to influence the value of the Canadian dollar. Deputy Governor Lane explains why Canada still holds reserves, how it assesses what is an adequate level, and how it manages them.

Timothy Lane was appointed deputy governor of the Bank of Canada in February 2009. Prior to joining the Bank, he served for 20 years on the staff of the International Monetary Fund (IMF) in Washington, DC. During 2004–05, he was a visiting fellow at the University of Oxford. He has also served as assistant professor of economics at Michigan State University (1984–88) and at the University of Iowa (1983–84).