Wednesday, April 24, 2019 11:07AM /by HMTreasury 

Today, the Chancellor willannounce the start of the process to appoint the next Governor of the Bank ofEngland.

The current Governor, MarkCarney, took up the role on 1 July 2013 and will step down on 31 January 2020.

The Chancellor of the Exchequer,Philip Hammond, said:

In today’s rapidly evolvingeconomy the role of Governor is more important than ever. Finding a candidatewith the right skills and experience to lead the Bank of England is vital forensuring the continuing strength of our economy and for maintaining the UK’sposition as a leading global financial centre.

I look forward to workingwith Mark Carney over the remaining months of his term as Governor. His steadyhand has helped steer the UK economy through a challenging period and we arenow seeing stable, low inflation and the fastest wage growth in over a decade.And under Mark’s leadership the Bank of England has been at the forefront ofreforms to make our financial system safer and more accountable.

The Governor of the Bank ofEngland chairs the Bank’s three main policy committees, which oversee the UK’smonetary, financial and prudential policy. The Governor also represents theBank internationally, including at the G7, G20, Bank for InternationalSettlements and the International Monetary Fund.

As with all Treasuryappointments, the recruitment process for the next Governor has been designedto ensure that the most qualified candidate is appointed from the broadestpossible pool of applicants.

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