(Bloomberg) -- The Financial Times reported on Thursday that Andrew Bailey, current head of the Financial Conduct Authority, has been selected as the new governor of the Bank of England.
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Bailey will take over from incumbent Mark Carney. The appointment is to be announced as early as Friday.
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The new governor will come into the role just as the U.K. economy enters another period of negotiation and uncertainty as it leaves the European Union. Carney is due to step down Jan. 31.
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