The appointment of Andrew Bailey as Mark Carney’s successor at the Bank of England might say something about the Chancellor’s expectations for the economy in 2020. Bailey has for the last three years been the CEO of the Financial Conduct Authority (FCA), but previously worked for three decades at the Bank, and it was this part of his career that Sajid Javid drew attention to in his speech this morning.
“During the financial crisis, he led the teams who were on the front line of the Bank’s response,” Javid said, adding that Bailey “emerged from the most serious crash in living memory with his reputation enhanced”.
Subscribe to The New Statesman today from only £8.99 per month
Content from our partners
