Arab Press

بالشعب و للشعب
Wednesday, Oct 01, 2025

Could Bank of England get its first female governor?

Could Bank of England get its first female governor?

The Bank of England may see its first female governor in over 300 years if the current government remains in power after the general election in December.

Egyptian-born Dame Minouche Shafik is the current government's favoured candidate to succeed Mark Carney when his term ends in January of next year.

However, the government feels it would be inappropriate to name a successor to one of the most important economic posts in the UK before the results of the election on 12 December.

A change of government in December would see a change in chancellor - the person who recommends the choice of governor.

The role of governor of the Bank of England is one of the most powerful positions in the UK. The bank is responsible for setting interest rates and policing the stability and behaviour of the UK's financial sector.

Although the governor is only one of a committee of nine people who set interest rates, he or she wields enormous influence over the way the UK's financial system is run.

Given the UK's position as arguably the world's most important financial centre, the job comes with global influence.

Dame Nemat Talaat Shafik, who is 57 and more commonly referred to as Minouche, has already served as a deputy governor of the bank and is currently director of the London School of Economics.

Other candidates for the role include Andrew Bailey, chief executive of the Financial Conduct Authority; Shriti Vadera, chair of Santander UK; and Ben Broadbent, Jon Cunliffe and Paul Tucker - all former or current deputy governors at the Bank.


Hawk or dove?


One former Bank of England insider told the BBC "she would be a very popular appointment internally. She has very good people skills which not all the other candidates do."

The most important question perhaps is whether this potential new governor is seen as a "hawk" or a "dove".

A hawk is someone who would rather raise interest rates early to head off inflation by increasing the cost of loans to discourage borrowing and spending.

A dove is someone who would rather wait and see whether cheap borrowing really leads to debt-fuelled spending before raising the rates at which consumers and home buyers can borrow.

Dame Minouche - who received her damehood in 2015 - has described herself in the past as an "owl" who would be "wise" when setting the rates at which we all borrow.

The incumbent government may have chosen its preferred governor. But it would perhaps be unwise to assume whether it gets to make that call.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
×