On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

1590 AM Coldwater, Michigan 95.5 FM Coldwater, Michigan

Weather

Current Conditions(Coldwater,MI 49036)

More Weather »
63° Feels Like: 63°
Wind: WNW 3 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Scattered Thunderstorms 73°

Tonight

Clear 50°

Tomorrow

Mostly Sunny 78°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

O'Donnell pulls out of BoE governor race: FT

Britain's Cabinet Office head Gus O'Donnell poses for a photograph after he was made a Knight Grand Cross of the Order of the Bath by Queen
Britain's Cabinet Office head Gus O'Donnell poses for a photograph after he was made a Knight Grand Cross of the Order of the Bath by Queen

LONDON (Reuters) - Gus O'Donnell, the former top British civil servant, has decided not to apply to become the next Bank of England governor, the Financial Times reported on Monday.

Candidates have until 0730 GMT (8:30 a.m. British time) on Monday to submit their applications, with a decision due by the end of the year.

"You need a governor who desperately wants the job and is willing to serve eight years," O'Donnell, 60, is quoted as saying in the FT.

"I hope whoever is governor is supportive of monetary and fiscal co-ordination. Yes, you need an independent governor, but some things need the (Bank and Treasury) working together. Quantitative easing is a classic example where governor and chancellor need to work together," said O'Donnell.

Bookmakers Ladbrokes on Saturday made O'Donnell the favorite to land the role after tightening his odds to 2 to 1. Remaining favorites include BoE Deputy Governor Paul Tucker and Financial Services Authority Chairman Adair Turner.

Britain is seeking "a person of undisputed integrity and standing" to take over from Sir Mervyn King from July 1 next year, according to the BoE's job advertisement. (Reporting by Stephen Mangan)

Comments