Lyons Leads Betting to Replace Carney at BOE, Betway Says
Lyons Leads Betting to Replace Carney at BOE, Betway Says
(Bloomberg) -- Gerard Lyons has become front runner to replace Mark Carney as Bank of England Governor, according to an online oddsmaker.
The economist -- a former adviser to prime ministerial candidate Boris Johnson and a prominent advocate of Brexit -- is reported to have interviewed for the role and published an opinion column for the Financial Times Monday. Betway said it has cut the odds on him to 6/4 after seeing “notable support” from gamblers.
While betting can reflect the popular view of the race, it is not always a reliable forecaster. The firm last year stopped taking bets on the next central bank chief after an influx of money on Financial Conduct Authority head Andrew Bailey, only for Carney to extend his tenure for a second time. Bailey now sits behind Lyons with odds of 11/4.
Betway is also offering odds of 5/1 on former Reserve Bank of India governor Raghuram Rajan, who has said he didn’t apply for the role. Former BOE Deputy Governor Minouche Shafik is at 6/1.
The head of the central bank is chosen by the U.K. chancellor of the exchequer. Philip Hammond, who is currently in the role, said he’ll quit should Johnson become prime minister and that a shortlist for the BOE job will be ready when his successor is appointed.
To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net
To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Brian Swint, Zoe Schneeweiss
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