A recent report by the Financial Times had listed top probable candidates in the race to replace Mark Carney at Bank of England, which features the name of the Ex-IMF Chief and one-time RBI Chief Raghuram Rajan. Prof Rajan spoke at an event at the University of Chicago Booth School of Business in London, addressing this speculation, and said that he already had a 'good job which he enjoyed'.
The noted Economist with 'impeccable international economics and central banking experience' along with 'significant achievements at the Reserve Bank of India', has said, “I don’t know why I am linked, but I think the very easy answer is I am extremely happy going back to academia”. He added, “I am an academic, not a central banker”.
FT has also summarised the pros and cons of all the listed candidates and interestingly, the only downside to Prof Rajan's appointment reads: “No indication that he would want the job at the BoE”. However, at the event he was asked whether he would apply for the role when it is likely to be advertised in July, and he told the reporters, “I think I’ve said all I can say. I’m not going to apply for a job anywhere, absolutely”. The reporters then asked what he would do if he were approached to fill the role, which which is due to come vacant next year, and Rajan responded that he 'had already answered a similar question'. Prof Rajan was born in Bhopal, central India. In 2003 he became the International Monetary Fund’s youngest chief economist and the first non-westerner appointed to the position.
Another person that could be a candidate for the post is chair of Santander UK and Indian-origin Baroness Shriti Vadera. The report noted, “If Hammond follows his predecessor's instincts and wants a lively hard-hitter at the BoE, Shriti Vadera, the chair of Santander UK and a former business minister under Gordon Brown fits the bill”.
