Theresa May resignation throws BoE Governor race into unknown

London: Theresa May’s resignation threatens to turn the race to lead the Bank of England on its head. A new prime minister — and the new chancellor of the exchequer that might accompany them — could have very different priorities from May and Philip Hammond, potentially opening the door for a different slate of candidates for the top BOE job.

The finance chief is the one formally responsible for making the appointment.

Potential governors don’t have long to make up their mind. The closing date for applying for the BOE role is June 5 — two days before May will stand down — with a decision due in October. A new prime minister is likely to be in place by the end of July.


“Not only do we not know who’s in the running and who is actually possible, but we also don’t know who is going to be making that choice — or, to be honest, even which party may be making the decision,” said George Buckley, chief U.K. economist at Nomura in London.