British Finance Minister Sajid Javed announced Friday the Governor of the Bank of England next Friday after the end of the term of the current Governor of the Bank, Mark Carney. Andrew Bailey, the former deputy governor of the Bank of England, won the position, replacing Carney on March 17, 2020, becoming the 121st Bank of England Governor, and taking over the country’s financial stability.
It is worth noting that the Bank of England Governor controls short-term interest rates and has the ability to influence the value of the currency more than anyone in the country. Usually traders approach his statements in order to devise the future of the Bank of England monetary policy.