Timothy Lane served as Deputy Governor from February 2009 until his retirement from the Bank of Canada in September 2022.
As a member of the Bank’s Governing Council, he shared responsibility for decisions with respect to monetary policy and financial system stability, and for setting the strategic direction of the Bank. He oversaw the Bank’s funds management and currency functions — notably including the Bank’s ongoing research and analysis of developments in financial technology, crypto-assets and digital currencies.
Mr. Lane’s responsibilities as Deputy Governor covered a series of different areas. From 2014 through July 2018, he was responsible for the Bank’s analysis of international economic developments in support of monetary policy decisions — serving as the Bank’s G7 and G20 Deputy. Previously, he was responsible for overseeing the Bank’s work on financial markets (2010–13) and its analysis of Canadian economic developments (2009–10). He joined the Bank in August 2008 as an Adviser to the Governor.
Prior to joining the Bank, he served for 20 years on the staff of the International Monetary Fund (IMF) in Washington, DC. During that period, he worked on a wide range of issues and contributed to the IMF’s work on a number of countries. He has published research on various topics including monetary policy, financial crises, IMF reform, and economic transition. During 2004–05, Mr. Lane 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).
Born in Ottawa, Mr. Lane received a BA (Honours) from Carleton University in 1977 and a PhD in economics from the University of Western Ontario in 1983.
February 16, 2022
Bank of Canada Deputy Governor Tim Lane discusses how the Bank responds to uncertainty in turbulent times.
June 10, 2021
Deputy Governor Tim Lane talks about the Bank’s latest interest rate announcement and discusses how the digital transformation has supported resilience through the pandemic and may be adding to the economy’s growth potential.
February 10, 2021
Deputy Governor Timothy Lane talks about how the Bank of Canada is contributing to the modernization of our payments ecosystem, and how the COVID-19 pandemic has highlighted the need to make payments more convenient for all Canadians.
May 20, 2020
Deputy Governor Timothy Lane explains how the Bank is helping Canadian households and businesses weather the COVID-19 crisis, and how our actions today are laying a solid foundation for our future economic recovery.
February 25, 2020
Deputy Governor Timothy Lane explains how the Bank of Canada is preparing for a future where Canadians may need a digital currency issued by their central bank.
December 5, 2019
Deputy Governor Timothy Lane talks about the different monetary policy paths taken by Canada and the United States over the last decade and reviews the Bank of Canada’s latest interest rate decision.
February 6, 2019
Deputy Governor Timothy Lane discusses how Canada manages its foreign exchange reserves.
October 1, 2018
Deputy Governor Timothy Lane discusses the Bank of Canada’s research and responses to public interest in cryptocurrencies.
March 8, 2018
Deputy Governor Tim Lane discusses the issues that led Governing Council to hold the policy interest rate at 1.25 per cent in their March 7 decision.
September 18, 2017
Deputy Governor Timothy Lane discusses the changing nature of international trade and the factors that are propelling it.
Bank of Canada Review articles
August 19, 2010
The authors examine whether monetary policy should and could do more to lean against financial imbalances (such as those associated with asset-price bubbles or unsustainable credit expansion) as they are building up, or whether its role should be limited to cleaning up the economic consequences as the imbalances unwind.
The Economy, Plain and Simple
May 22, 2020
In the days and weeks since the COVID-19 pandemic came to Canada, the Bank of Canada has been taking action to ensure our economy and financial system are weathering the unprecedented shock of the shutdown.