Pound stable as Mark Carney named new BoE governor

<p>Canadian Mark Carney has been named the new governor of the Bank of England.</p>

The pound is stable in forex trading this morning (November 27th) after Canadian Mark Carney was announced as the new governor for the Bank of England (BoE).

Mr Carney – who currently heads Canada's central bank – will take over from incumbent Sir Mervyn King in July 2013 and will serve for five years.

Sir Mervyn's time as governor is up after serving the maximum of two five-year terms in the top job on Threadneedle Street.

The Canadian will be the first non-Briton to be appointed as the governor of the BoE and was a surprise choice, given deputy governor Paul Tucker and Financial Services Authority chairman Lord Turner were also in the running.

Chancellor of the exchequer George Osborne said Mr Carney would bring the "strong leadership and external experience the Bank needs".

At 09:45 GMT, the pound was stable versus the dollar at £1 buying $1.603, while it rose against the euro by 0.1 per cent to €1.237.

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