New Bank of England Governor appointed

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Andrew Bailey New Bank of England Governor Credit: Bank of England

THE current chief executive of the Financial Conduct Authority (FCA), Andrew Bailey has been appointed the new Bank of England Governor for an eight year term, with effect from March 16 next year.

There has been some criticism of the FCA for allowing a number of financial problems to escalate with little in the way of punishment for those who have offended.

Mr Bailey had worked for 30 years at the Bank previously and appeared to be the natural successor to Mr Carney.

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