Economists expect the report will show a bump in employment as a result of pandemic-related restrictions being eased and reopenings widened.

Poloz will replace Ray Tanguay, retired chairman of Toyota Motor Manufacturing Canada Inc., who had been chair since November 2014.

In July, the central bank will release an updated economic outlook for the country and make its next interest rate announcement.

Stephen Poloz retired as the head of Canada's central bank on Tuesday.

Canada's central bank said the impact of the novel coronavirus pandemic on the global economy appears to have peaked.

More than 8.1 million workers have applied for the $2,000-a-month benefit since it became available at the beginning of April, with payments now totalling over $38.4 billion.

Plunging revenues and incomes could become a severe problem for both companies and households.

Canada's central bank faces a leadership transition in the middle of the national health emergency.

For the recovery to really take off, stimulus actions need to "reach the ultimate borrower," he said.

The Liberals are hoping the 75-per-cent wage subsidy will prompt companies to rehire vast swaths of the six million Canadian workers who have asked for emergency federal aid since the pandemic brought the global economy to a virtual standstill.