The search for a new Bank of England Governor will begin later this week, the Chancellor of the Exchequer announced yesterday.
The news follows Sir Mervyn King, the current Governor's announcement that he will retire next June after working two four year terms.
The role is expected to be advertised in the weekly newspaper, The Economist, this Friday and subsequently on the Public Appointments website. The closing date for applications is October 8th.
It is thought the advertisement by the Treasury will state: " The new governor will lead the Bank through major reforms to the regulatory system, including the transfer of new responsibilities that will see the Bank take the lead in safeguarding the stability of the UK financial system."
The successful applicant will be announced by the end of this year and will begin the role on 1st July next year.
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