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Hammond starts search for Mark Carney successor at Bank of England | Business News



The chancellor is starting the process to find a new governor of the Bank of England as Mark Carney’s extended tenure nears its end.

The Treasury said in a statement that an advert for the job, which carries a salary of £480,000 a year along with a host of perks,would be posted on Wednesday morning.

Mr Carney has been in the role since post-crisis July 2013 and is due to step down on 31 January next year.

His tenure was twice extended to ensure stability ahead of Brexit.

The Canadian told Sky News in an interview earlier this month there was “absolutely no” chance of him staying beyond the 31 January date, despite continued uncertainty over the UK’s departure from the EU.

The issue has seen Mr Carney dragged into the political mire – with Brexit-supporting critics accusing him of bias and calling for his resignation.

In his statement, Philip Hammond praised Mr Carney’s “steady hand” in the role and said it was “vital” to find the right successor to ensure the ongoing strength of the economy.

The chancellor said: “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.”

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