Carney will leave in January 2020
The Bank of England's 325-year history undoubtedly makes it the world's most-storied central bank.
Mark Carney will leave in January with a mixed record. He helped to shore up public confidence and cohesiveness after the sloppy Mervyn King era but had plenty of missteps of his own on rates and communication around Brexit.
The FT writes about the search for his successor and notes that Andrew Bailey is the current odds-on favourite but that former Reserve Bank of India leader Raghuram Rajan is also a rising contender.
Politics is a central question about the next leader. The deadline to apply is June 5 and it will take months before any decision is reached. That means a new Conservative leader or someone from Labour could even be making the decision.
As the FT notes:
"Candidates will also need to take on board the high likelihood at some point between 2020 and 2028 of a leftwing Labour government that disagrees with the current distribution of operational responsibilities delegated to the central bank. Labour has floated several plans for the BoE, including a move to Birmingham (the job advert promises London), a new mandate "to reflect the climate change emergency", a target to improve productivity growth, a rule to suspend the BoE's primacy in stabilising the economy if interest rates cannot be lowered any further and a target to control house prices."
Here's hoping for someone that adds to FX volatility.