Raghuram rajan rules himself out of Bank of England top job

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Former Reserve Bank of India (RBI) governor Raghuram Rajan on Wednesday ruled him out for the role of governor of Bank of England by saying he did not intend to apply for the post.

The post is due to come vacant next year.

Rajan said, “I have a very good job at the University of Chicago and I actually am an academic, not a professional central banker. I am very happy where I am.”

He is currently a finance professor at Booth School of Business at the University of Chicago.

“I Think I’ve said all I can say. I’m not going to apply for a job anywhere, absolutely,” he added.

Earlier a report from London-based leading UK daily Financial Times said that he was a top contender for the Bank of England (BoE) top job. Analysts had mentioned Rajan as the possible future BoE governor after Mark Carney’s exit next year.

British Finance minister Philip Hammond is expected to name Carney’s successor later this year. In Washington last week, he indicated of considering candidates from abroad.

Andre Bailey, a former BoE deputy governor who currently heads Britain’s Financial Conduct is seen as the front-runner by may economist in London.

Other names in the race include Agustin Carstens, General Manager of the Bank of International Settlements; Minouche Shafiq, a former BoE deputy governor and Shriti Vadera who chairs Santander UK.

 

Rajan is also a former chief economist at International Monetary Fund (IMF).

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