BOE Governor Appointment to Be Delayed by Election, Telegraph Reports

(Bloomberg) --

The appointment of the next Bank of England governor is almost certain to be delayed until after the U.K.’s general election, the Telegraph reported, citing unidentified sources.

Chancellor Sajid Javid, who is charged with making the decision, said earlier this month that the Treasury was still “on track” to announce the name in the autumn. But a pre-election quiet period ahead of the planned Dec. 12 poll means that is now unlikely, the newspaper said.

The delay raises questions about whether there will be sufficient time to prepare a new governor to replace current BOE chief Mark Carney. He has twice extended his stay already and is now due to step down on Jan. 31, which is also the new deadline for Britain to leave the European Union. If he sticks to those those plans, his successor would have deal with the economic consequences of a potentially messy departure on day one.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net

©2019 Bloomberg L.P.