Finance

6 Most-Likely Nominees for the Next BOE Governor

  • Raghuram Rajan is a highly respected Chicago-based economist
  • Ben Broadbent criticised for describing the UK economy as “menopausal”
  • Andrew Bailey knows his way around Threadneedle
Next BOE Governor London UK
Who wil be the Governor of London's Bank of England?

Mark Carney is due to leave his post as Bank of England governor at the end of January 2020. Speculations are mounting on the leading candidates to replace Mr. Carney. Familiar faces like Andrew Bailey and Ben Broadbent are among the frontrunners. But we think you should bet on the next BOE governor to be the Indian economist, Raghuram Rajan.

BOE Governor position is one of the most prestigious roles in central banking. However, it is also one of the toughest jobs. The next BOE governor will have to oversee the UK during Brexit. Bloomberg suggests the UK government is open to hiring a foreign economist, but it may end up choosing a familiar candidate.

We prepared a list of six nominees with best odds at online betting sites in the UK. The vast majority of the nominees are members of the Monetary Policy Committee at the BOE. If you wish to bet on the next BOE governor to be rather a foreign economist, choose Raghuram Rajan.

Mr. Rajan highly respected Chicago-based economist

Next BOE Governor Ragghuram Rajan
Bet on Raghuram Rajan to be the next Governor of the Bank of England!

Raghuram Rajan’s name has been mentioned a lot as a potential candidate who could bring a global perspective to the UK. He is from India. He served as a governor of the Reserve Bank of India and IMF chief economist. Currently, he is a professor at the University of Chicago Booth School of Business.

His odds stand at 10/1, according to 22Bet Sportsbook. However, you should keep in mind that Mr. Rajan had not announced yet that he wanted the job. You may bear in mind as well when betting on the next BOE Governor, that British politicians might oppose Mr. Rajan’s views. He believes central banks should tackle inflation, while governments should use their firepower to boost economic growth.

Shafik the Director of LSE

The current Director of London School of Economics, Minouche Shafik is another top contender with 10/1 odds. She is well connected to the international circuit. She has 15 years experience at the World Bank and IMF. Shafik was the youngest vice-president in the history of the World Bank at the age of 36. With such great resume, a job offer could be already laying on her desk.

Cunliffe understands the economic shocks of Brexit

Jon Cunliffe, 65, is the deputy governor for Financial Stability at the BOE. Before joining the Bank he was UK’s permanent representative to the EU. If Mr. Cunliffe is hired as the BOE governor with 10/1, it will be for one main reason. He would be well-placed to help the BOE navigate the economic aftershocks of Brexit.

Broadbent described the UK economy as “menopausal”

The deputy governor of the BOE for monetary policy, Ben Broadbent, is educated at Cambridge and Harvard. He was senior European Economist at Goldman Sachs. He worked at the Treasury and was an Assistant Professor of Economics at Columbia University.

Next BOE Governor Ben Broadbent
Broadbent thinking about becoming the next Bank of England Governor

Internet sportsbook news in the UK illustrated Ben Broadbent as a safe, establishment candidate for some time. Therefore he is one of the favourites with 15/2. Yet after he described the UK economy as “menopausal” last year, his image may have been shaken.

Ramsden an insider to the central bank and the government

Dave Ramsden is one of the newest members of the Monetary Policy Committee at the BOE. He is also a visiting Professor at King’s College London. Before joining the BOE, he spent almost 30 years at the Treasury, with the final 10 as the chief economic adviser. Being an insider to both the central bank and the government, he may be seen as a safe pair of hands with 7/2.

Bailey knows his way around Threadneedle

Andrew Bailey (89/200) the frontrunner had a distinguished career at the central bank. He held roles including deputy governor, chief cashier and CEO of the Prudential Regulatory authority. He knows his way around Threadneedle very well. Yet some argue he is not a macroeconomist, and he is too hesitant to handle rough economic seas after Brexit.

Before choosing your best bet on the next BOE Governor, check our latest review about 22Bet Sportsbook.

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