King replaces George at BoE

King, previously deputy governor responsible for monetary policy, was announced as George’s successor last November (FX Week, December 2).

Rachel Lomax takes over King’s former role as deputy governor, monetary policy. She joins the Bank from the UK government’s Department of Transport, where she was Permanent Secretary.

While King is perceived as a hawk, economists do not expect his tenure at the BoE to signal an immediate interest rate rise.

“He’s the only monetary policy committee

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