Andrew Bailey to succeed Mark Carney as Bank Governor

The new governor of the Bank of England has been announced as Andrew Bailey, who’s currently the head of the UK’s city regulator.

Mr Bailey has been criticised for several scandals which have happened on his watch as Chief Executive of the Financial Conduct Authority.

But as a former deputy governor of the Bank of England, many see him as a safe pair of hands. The Chancellor Sajid Javid described him as “the stand-out candidate”.