Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

UK will not appoint new BoE chief before Dec. 12 election - official

Published 31/10/2019, 21:44
Updated 31/10/2019, 21:44
© Reuters. FILE PHOTO: Bank Of England Inflation Report Press Conference

© Reuters. FILE PHOTO: Bank Of England Inflation Report Press Conference

LONDON (Reuters) - Britain's government will not name a successor to Bank of England Governor Mark Carney before a national election due on Dec. 12, a finance ministry official said.

Earlier on Thursday, a spokesman for Prime Minister Boris Johnson said the process for the appointment remained on track to be made this autumn.

The BoE's current governor, Mark Carney, is due to leave the central bank on Jan. 31, which is also the latest deadline for Britain to leave the European Union.

By convention, British governments do not make major appointments in the run-up to elections.

A BBC reporter, Simon Jack, said on Twitter he had been told that former BoE deputy governor Minouche Shafik was the government's preferred candidate to run the central bank.

On Tuesday, broadcaster ITV's political editor Robert Peston said another former deputy governor, Paul Tucker, was rumoured to be favoured.

Finance Minister Sajid Javid said earlier this month that he was looking for an independent-minded new BoE governor.

© Reuters. FILE PHOTO: Bank Of England Inflation Report Press Conference

The finance ministry has declined to comment on speculation about who is in the frame for the position.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.