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Wanted: 'highest calibre' new Bank of England governor

Video Credit: Reuters Studio - Duration: 01:18s - Published < > Embed
Wanted: 'highest calibre' new Bank of England governor

Wanted: 'highest calibre' new Bank of England governor

UK finance minister Philip Hammond began the search for a new governor of the Bank of England on Wednesday, seeking someone to help steer the world’s fifth-biggest economy, and its global financial centre, through the upheaval of Brexit.

Edward Baran reports.

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Wanted: 'highest calibre' new Bank of England governor

He's long been a thorn in the side of Brexiteers... With his repeated warnings of the threats posed to the UK's economy by leaving the European Union.

(SOUNDBITE) (English) GOVERNOR OF THE BANK OF ENGLAND, MARK CARNEY, SAYING: "There's little monetary policy can do to offset the potentially significant hits to productivity and supply that Brexit could entail." (Nov 28, 2018) (SOUNDBITE) (English) GOVERNOR OF THE BANK OF ENGLAND, MARK CARNEY, SAYING: "The economy as a whole is still not prepared for a no-deal, no transition exit.'' (Feb 7, 2019) Now Mark Carney, the Bank of England governor, is stepping down early next year -- and the hunt is on for his successor Britain's finance minister Philip Hammond is seeking someone to help steer the world's fifth-biggest economy through Brexit's complexities.

Carney, a Canadian, twice extended his term in charge of the British central bank but now he's said he'll be calling it a day.

The new governor will be in post next February... Hammond thanked Carney for helping to lead the UK economy through what he called a challenging period.

He said earlier this month he hoped concerns over Brexit would not deter potential applicants for a role with an annual salary of $620,000.

The runners and riders include former deputy governor Andrew Bailey who is now chief executive of the Financial Conduct Authority.... and current central bank officials including chief economist Andy Haldane and deputy governor Ben Broadbent.




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