Bank of England not to name new governor now
The Bank of England is not likely to announce the successor of Mark Carney as the governor of the bank until after the general elections in Britain. Chancellor Sajid Javid has given up plans to announce his choice in view of the impending elections. He is said to have felt that announcing the name at this politically sensitive time may damage the independence of the bank. Carney is set to leave the bank at January 2020 and there is still time for the newly appointed governor to get prepared to take over. A panel of senior officials and the former monetary policy committee member had prepared a shortlist of candidates to the Treasury after holding interviews with applicants over the summer. The shortlist is said to include Andrew Bailey, chief executive of the Financial Conduct Authority, Minouche Shafik, head of the London School of Economics, Shriti Vadera, chair of Santander UK, and Ben Broadbent and Jon Cunliffe, both deputy governors at the bank.