BoE governor appointment to be delayed until after forthcoming election: FT

(Reuters) - The appointment of the next governor of the Bank of England will be pushed back until after the forthcoming election, the Financial Times reported on Tuesday, citing people briefed on the matter.

Reuters September 18, 2019 04:06:15 IST
BoE governor appointment to be delayed until after forthcoming election: FT

BoE governor appointment to be delayed until after forthcoming election FT

(Reuters) - The appointment of the next governor of the Bank of England will be pushed back until after the forthcoming election, the Financial Times reported on Tuesday, citing people briefed on the matter.

Bank of England Governor Mark Carney could be asked to extend his term if Brexit is delayed again, according to the report.

Ministers are not likely to meet the British government's deadline of announcing Carney's successor this autumn, the report added.

The process of the choosing the next governor is going "very slowly" and an expected election in November or December makes it likely that the appointment will not be made until a new government was in place, according to the report.

British Prime Minister Boris Johnson said last month that the next Bank of England chief must be independent without commenting on whether the successful candidate had to be a Brexit supporter.

Current BoE governor Mark Carney is due to stand down at the end of January 2020. His successor will be formally chosen by the finance minister, Sajid Javid.

The BoE and the Treasury did not immediately respond to Reuters' request for comment outside regular business hours.

(Reporting by Kanishka Singh in Bengaluru; Editing by Chizu Nomiyama)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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