Bank of England gets Canadian governor

Fourth Estate Cooperative Staff

England, United Kingdom (4E) – Chancellor George Osborne on Monday named Canadian Central Bank Governor Mark Carney as the new governor of the Bank of England.

In a statement at the Parliament, Osborne said that the Bank would grow under 47-year-old Carney’s strong leadership, adding that he would apply for British citizenship later this year.

Comparing Carney with the likes of Sir Alex Ferguson or Pep Guardiola, Osborne said that he is “the outstanding central banker of his generation” and the one who has weathered the economic storm better than any other major Western economy.

Carney’s tenure will start in June next year for five years when Sir Mervyn King will step down from his post.

Responding at Carney’s appointment, Sir Mervyn described him as an outstanding choice as his successor, adding that the Bank of England will get a new generation of leadership under him.

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