Paul Tucker, one of the two deputy governors of the Bank of England, had been the betting favorite to become governor. Osborne said he hoped Tucker would remain at the bank, adding that he had extended the term of the other deputy, Charles Bean, for another year until mid-2014.
With Bean’s time running short and a disappointed Tucker possibly ready to leave, “today’s appointment could well usher in a period of significant upheaval at the Bank of England,” Investec Securities chief economist Philip Shaw said.
RSS