Chancellor names new Bank of England governor

Chancellor George Osborne has announced Canadian central banker Mark Carney as the next governor of the Bank of England.

The surprise appointment of the former Goldman Sachs manager will see Carney take over from Sir Mervyn King on 1 July next year. 

Carney is the current governor of the Bank of Canada and chairman of G20's Financial Stability Board. 

He is credited with playing a key role in helping Canada escape the brunt of the financial crisis, including measures such as keeping interest rates as low as possible for a year in 2009.

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Comments

Potentially good news ...

JC | | Permalink

Thank goodness that Mervyn Tefflon-King is going and none of his cohorts are replacing him

After all these are the people who completely missed the boat in 2007/08 and ever since then have been admitting how with the benefit of hindsight they got things wrong (even today admissions about MPC getting it wrong) - yet they remained in office and blithly went ahead with disasterous QE policies

The new incumbent looks a lot more promising