BOE Governor Race Twists Again as Shafik Tipped as Favorite

(Bloomberg) --

Minouche Shafik, a former deputy governor at the Bank of England, is the U.K. government’s favored candidate to take over the top job at the institution, according to the BBC.

While the U.K., Treasury have signaled they won’t make a decision until after the Dec. 12 election, the broadcaster said Shafik was the favorite should the Conservative Party stay in power. A contrasting Sky report Friday said that the government hasn’t yet narrowed down its preference for the governorship.

Shafik is currently director of the London School of Economics and Political Science and, if appointed to the BOE, would be its first female chief. Incumbent Mark Carney is due to step down as governor on Jan. 31.

The reports are yet more twists in what’s been a tortuous appointment process that was due to have been completed in the autumn. Just this week, former Deputy Governor Paul Tucker - who lost out the last time to Carney -- was said to be in the frame.

Other names that have been linked to the BOE governorship include Deputy Governor Ben Broadbent and Chief Economist Andy Haldane, as well as external figures such as economist Gerard Lyons and Helena Morrissey from the asset management industry.

If the Dec. 12 election results in a change of government, that could also mean a new chancellor, who could throw out any shortlist and appoint someone else.

©2019 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.