The chancellor has formally begun the search for a new governor of the Bank of England and has appointed an all-female headhunting firm to lead the process.
An advert for the job, considered to be one of the most powerful unelected posts in the country, was published yesterday, confirming that Mark Carney’s tenure will end on January 31 next year.
The governor leads the Bank’s rate-setting committee, oversees the stability of the financial system and supervises high street banks. The role combines powers to raise interest rates, launch quantitative easing, squeeze mortgage lending and crack down on wayward lenders.
Mr Carney, 54, who is Canadian, originally intended to step down in June, but he extended his stay for seven months at the government’s request to