The Bank of England will change at the head of the Canadian

The UK authorities have called the head of the Bank of England, the future is now the acting head of the Central Bank of Canada Governor Mark Kearney. Mr. Kearney is the first foreigner to head the Central Bank of the UK since its inception in 1694. It is expected to come into their powers in the summer of 2013. Reason destination guide the Bank of England "Varyag" is that from 2013 to it as anti-crisis measures will move from the Office of Financial Regulation and Supervision (FSA) powers finregulyatora UK. During this period, the Bank of England need a manager with extensive experience and skills, and Mark Kearney famously secured Canada mildest of recessions last crisis.

The UK authorities have called the head of the Bank of England, the future is now the acting head of the Central Bank of Canada Governor Mark Kearney. Mr. Kearney has managed to bring the Canadian economy from the global financial crisis of 2008-2009 - he was able to make a recession in Canada, one of the mildest of the richest countries in the world. Any Canadian banks did not need state aid, and the country was able to quickly recover all the jobs lost during the economic downturn. Britain, by contrast, had to provide financial assistance to Royal Bank of Scotland and Lloyds Banking Group.

Justifying his departure from Canada, Mark Kearney said that in London he faces more serious challenges, stressing the need for a "rebalancing" of the economy, based on the hit by huge losses and scandals, the financial services sector. Finance Minister George Osborne, presenting Mark Kearney parliament, said lawmakers had chosen the 47-year-old banker, head of the Central Bank as the best of his generation and the "most qualified" candidate in the world to head the Bank of England. Himself, Mr. Kearney said in Parliament on its agreement to take a position and "to continue the work of Sir Mervyn King, who has worked closely with the last five years and who has learned a lot."

The current head of the Bank of England since 2003, Mervyn King will leave his post on June 30. Mark Kearney run for the post of head of the Bank of England for only five years and will leave it in June 2018. The current moment of the future head of the Bank of England regards as "a critical time for the British, European and world economy, a crucial period for the reform of the global financial system, including its leading financial center - the City of London - and a critical moment in the history of the Bank of England."

The new head of the Bank of England will face a "slow and protracted recovery," which may require the regulator to continue purchases of government bonds. "It is unreasonable to expect anything was other than a slow and protracted recovery in the absence of further depreciation of the real exchange rate," - said predecessor Mark Kearney in parliament. "In these circumstances, there are limited opportunities to stimulate private sector demand by domestic means, until the economy adjusts to the new equilibrium. In the case if additional infusion of funds into the economy, I believe it would be right to do so, continuing our policy of buying government bonds "- said Mervyn King. According to him, the Bank of England appears possibility of a sharp economic recovery in 2013 and early 2014, but "Mark Kearney cope with the role of the manager, and the Bank of England is in good hands." Mervyn King at the Bank of England's economic recovery helped lower the key interest rate to a record low of 0.5% since March 2009, while launching a policy of quantitative easing (QE). The Bank of England has poured into the British economy a total of £ 375 billion ($ 604 billion, ? 467 billion) in the third quarter of 2012, it allowed her to get out of a recession amid the London Olympic Games.

In addition to the Bank of Canada, Mark Kearney is now the head of the global Financial Stability Board (Financial Stability Board, FSB), which, according to the "Y", are likely to leave. The future head of the Bank of England is married to a citizen of the UK, it is expected that he will get a British citizenship. "Mark Kearney is not a British citizen, but he is a citizen of the Queen", - said George Osborne. Until the appointment of the head of the Central Bank of Canada Governor Mark Kearney for 13 years at the U.S. investment bank Goldman Sachs. The bank did not disclose the exact salary Kearney, but says that it is in the range of $ 436-513 thousand

Advertising in the catalog

Go to:  Banks, Banking, Loans, Deposits