Chancellor Philip Hammond begins search for next Bank of England governor

Today (April 24) marks the beginning of the process in appointing the next governor of the Bank of England.

Mark Carney currently holds this position, and began on July 1, 2013. He is to step down on January 31, 2020.

Chancellor of the Exchequer, Philip Hammond, commented on the news: “In today’s rapidly evolving economy, the role of governor is more important than ever.

“Finding a candidate with the right skills and experience to lead the Bank of England is vital for ensuring the continuing strength of our economy and for maintaining the UK’s position as a leading global financial centre.”

The governor of the Bank of England’s job involves chairing the Bank’s three main policy committees, overseeing the UK’s monetary, financial and prudential policies.

Hammond added: “I look forward to working with Mark Carney over the remaining months of his term as governor.

“Under Mark’s leadership, the Bank of England has been at the forefront of reforms to make our financial system safer and more accountable.”

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