Financial Stability News

News about financial stability, central banking and theory of money

Who should be the next Governor of Bank of England?

The banking editor of Financial Times has an interesting piece today about who should be the next Governor of BoE when Mervin King retires in June next year. He quotes rumors that it is time for a private banker to enter the bank, after several periods with internal candidates. Two hot shots are both from HSBC, not surprisingly the late chairman Stephen Green (now trade minister and Lord) and his Douglas Flint, his replacement at the bank. Green should be well qualified after having written the excellent book on “Good Value: Reflections on money, morality and an uncertain world“.

However, the favorite seems still to be the current deputy governor Paul Tucker, who is a formidable internal candidate, with broad experience in both the price stability and financial stability part of the bank. Being an insider could be a handicap, and it is still too early to tell which are the preferences of the current government.

It is a key position, not least due to the intellectual leadership the Bank of England have been able to maintain over the years. By this time next year, we should be able to know more.


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