Bank of Eng­land not to name new gover­nor now

Banking Frontiers - - News Regulator -

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.

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