FT Reports Andrew Bailey to be Next Bank of England Governor
Posted on 12/19/2019
Andrew Bailey is the current Head of the U.K. Financial Conduct Authority (FCA). The Financial Times reports that Andrew Bailey was selected as the new Governor of the Bank of England, replacing Mark Carney. Bailey is a former Deputy Governor of the Bank of England. Bailey is also a U.K. citizen, in which Carney came from running the Bank of Canada.
In June 2019, Carney publicly stated and warned about the economic impact of a no-deal Brexit, this drawing ire from supporters of Brexit. In October 2019, Carney backed U.K. Prime Minister Boris Johnson’s Brexit deal that was awaiting a key vote by members of parliament.
