Governor of the Bank of England
The governor of the Bank of England is the most senior position in the Bank of England. It is nominally a civil service post, but the appointment tends to be from within the bank, with the incumbent grooming their successor. The governor of the Bank of England is also chairman of the Monetary Policy Committee, with a major role in guiding national economic and monetary policy, and is therefore one of the most important public officials in the United Kingdom.
| Governor of the Bank of England | |
|---|---|
Seal of the Bank of England | |
| Monetary Policy Committee Governor and Company of the Bank of England | |
| Residence | London, United Kingdom |
| Appointer | Chancellor of the Exchequer with the approval of the Prime Minister and the Monarch |
| Term length | 8 years Renewable once |
| Inaugural holder | Sir John Houblon |
| Formation | 1694 |
| Salary | £495 000 |
| Website | Governor of the Bank of England |
According to the original charter of 27 July 1694 the bank's affairs would be supervised by a governor, a deputy governor, and 24 directors. In its current incarnation, the bank's Court of Directors has 12 (or up to 14) members, of whom five are various designated executives of the bank.
The 121st and current governor is Andrew Bailey, who began his term in March 2020.