Paul Tucker leaves Bank of England

<p>Paul Tucker is stepping down from the Bank of England.</p>

Paul Tucker has confirmed he is set to stand down from the Bank of England.

After missing out on the job of governor to Mark Carney, deputy governor Mr Tucker announced today he will be leaving the organisation later in the year.

However, Mr Tucker will remain in place for a few months in order to assist Mr Carney as he settles in to the position after replacing Sir Mervyn King.

Mr Tucker, who has worked for the Bank of England for 30 years, said: "I am very proud that, through the Bank and the wider central banking community, I have been able to make a contribution to monetary and financial stability."

Sir Mervyn added it has been a privilege to be able to work so closely with Mr Tucker during his time as governor of the Bank.

Mr Carney will take over from Sir Mervyn in the coming weeks, leaving his post as governor of the Bank of Canada to control the Bank of England.

It remains to be seen whether he will enforce a change in monetary policy at the Bank. Interest rates in the UK remain at a record low for the nation of 0.5 per cent.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.