(Bloomberg) -- The U.K. government is in the final stages of choosing the new Bank of England governor, according to a person familiar with the process.
Prime Minister Boris Johnson and Chancellor Sajid Javid could make a decision this week on the replacement for Mark Carney, who is due to step down at the end of January. Meetings between government officials are currently taking place to make an appointment, said the person who declined to be named speaking on a confidential matter.
The new governor will be tasked with trying to control a troubled economy after the U.K. leaves the European Union next month. Johnson won decisively in last week’s election on a ticket to “get Brexit done” after three years of stalemate in the House of Commons.
Minouche Shafik, a former deputy governor, is seen as a likely candidate. Shafik is currently the director of the London School of Economics and also served as the deputy managing director of the International Monetary Fund and a vice president of the World Bank. A woman has never run the Bank of England in its three centuries of existence.
Other candidates include former Deputy Governor Paul Tucker, who lost out the last time to Carney, or Andrew Bailey, current head of the financial watchdog. Monetary Policy Committee members Ben Broadbent, Jon Cunliffe, also deputy governors, as well as Chief Economist Andy Haldane are also in the frame.
©2019 Bloomberg L.P.
RECOMMENDED FOR YOU
POPULAR