Andrew Bailey - the new guardian of the British pound

Brexit completely absorbed Great Britain. Exit from the European Union, relatively simple and trouble-free, became an event that completely absorbed the British after the reign of Theresa May. Boris Johnson, on the other hand, lives in the vision of the golden age, which is to open to the UK after final leaving the community. However, it is worth appearing outside this topic. Recently, information on the new nomination for the position of BoE governor has hit the market.

Be sure to read: 31 January 2020 of the year Britain is saying goodbye to the European Union

Good change

Andrew Bailey is the official new governor (121 in history) Central Bank of England. He will replace the current Mark Carney. The moment when the predecessor Bailey took over this role is quite interesting. The current governor was born in Leicester in 1959. The Englishman is now 60 years old and will take over the BoE for the next 8 springs (as long as the governor's term of office). Mark Carney performed a very similar function in 2008-2013, when he was head of the Bank of Canada. It wasn't until 2013 that he took over from Mervyn King, his predecessor at BoE. Carney was the first head of the second oldest central bank in the world who was not British by origin.

Andrew Bailey is one of the most famous figures on the London Stock Exchange. His choice was quite obvious due to the baggage of work experience at FCA. It is worth noting that he is a former deputy governor, and from 2016 he was the head of the British financial supervision office, an institution operating similarly to the Polish KNF.

16 March 2020

The post of Governor of the Central Bank of England Andrew Bailey will officially take office on March 16, 2020. As a curiosity, it can be added that his salary, according to recent announcements, is to be 495 000 pounds a year. This is not yet complete information about the governor's benefits, which do not include all additional benefits (e.g. housing and retirement benefits) in this amount.

As he says (right after receiving the nomination) "The election of the Governor of the Bank of England is a great honor, as is the opportunity to serve the British when we leave the European Union. The bank has an important task to do and as a governor I will continue what Mark Carney started. "

New old policy?

As Andrew Bailey himself admits, he feels honored to be able to take up this function at such a crucial moment for Great Britain. What's more, the words quoted by us above promise that Bailey will not (at least at the beginning) make a major revolution in the Central Bank of England.