Governor of the Bank of England explained

Post:	Governor
Body:	the Bank of England
Flagsize:	105px
Insigniacaption:	Seal of the Bank of England
Department:	Monetary Policy Committee Governor and Company of the Bank of England
Incumbent:	Andrew Bailey
Incumbentsince:	16 March 2020
Residence:	London, United Kingdom
Appointer:	Chancellor of the Exchequer^[1] ^[2] with the approval of the Prime Minister^[3] and the Monarch^[4]
Termlength:	8 years Renewable once
Inaugural:	Sir John Houblon
Formation:	1694
Salary:	£495 000 ^[5]
Website:	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.

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.^[6] 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.^[7]

The 121st and current governor is Andrew Bailey, who began his term in March 2020.^[8]

Governors of the Bank of England (1694–present)

No.	Name	In office
1		1694–1697
2		1697–1699
3		1699–1701
4		1701–1703
5		1703–1705
6		1705–1707
7		1707–1709
8		1709–1711
9		1711–1713
10		1713–1715
11		1715–1717
12		1717–1719
13		1719–1721
14		1721–1723
15		1723–1725
16		1725–1727
17		1727–1729
18		1729–1731
19		1731–1733
20		1733–1735
21		1735–1737
22		1737–1740
23		1740–1741
24		1741–1743
25		1743–1745
26		1745–1747
27		1747–1749
28		1749–1752
29		1752–1754
30		1754–1756
31		1756–1758
32		1758–1760
33		1760–1762
34		1762–1764
35		1764–1766
36		1766–1769
37		1769–1771
38		1771–1773
39		1773–1775
40		1775–1777
41		1777–1779
42		1779–1781
43		1781–1783
44		1783–1785
45		1785–1787
46		1787–1789
47		1789–1791
48		1791–1793
49		1793–1795
50		1795–1797
51		1797–1799
52		1799–1801
53		1801–1802
54		1802–1804
55		1804–1806
56		1806–1808
57		1808–1810
58		1810–1812
59		1812–1814
60		1814–1816
61		1816–1818
62		1818–1820
63		1820–1822
64		1822–1824
65		1824–1826
66		1826–1828
67		1828–1830
68		1830–1833
69		1833–1834
70		1834–1837
71		1837–1839
72		1839–1841
73		1841–1842
74		1842–1845
75		1845–1847
76		April–August 1847
77		1847–1849
78		1849–1851
79		1851–1853
80		1853–1855
81		1855–1857
82		1857–1859
83		1859–1861
84		1861–1863
85		1863–1865
86		1865–1867
87		1867–1869
88		1869–1871
89		1871–1873
90		1873–1875
91		1875–1877
92		1877–1879
93		1879–1881
94		1881–1883
95		1883–1885
96		1885–1887
97		1887–1889
98		1889–1892
99		1892–1895
100		1895–1897
101		1897–1899
102		1899–1901
103		1901–1903
104		1903–1905
105		1905–1907
106		1907–1909
107		1909–1911
108		1911–1913
109		1913–1918
110		1918–1920
111		1920–1944
112		1944–1949
113		1949–1961
114		1961–1966
115		1966–1973
116		1973–1983
117		1983–1993
118		1993–2003
119		2003–2013
120		2013–2020
121		2020–present

See also

• Chief Cashier of the Bank of England
• Deputy Governor of the Bank of England

External links

• List of Governors of the Bank of England

Notes and References

1. Web site: George Osborne gets his man: Mark Carney named as new Bank of England Governor. The Independent. 27 November 2012. 2 April 2020. Chu. Ben. The panel put forward Mr Carney’s name to the Chancellor, who then consulted the Prime Minister and the Deputy Prime Minister before announcing his decision..
2. Web site: Andrew Bailey appointed head of Bank of England. The Guardian. 20 December 2019. 2 April 2020. Partington. Richard. Javid is understood to have decided on Bailey..
3. Web site: Why didn't the Bank of England appoint a woman?. BBC News. 24 December 2019. 4 April 2020. Mackenzie. Nell. Andrew Bailey was appointed by the government, not the Bank: chosen by Chancellor Sajid Javid and approved by the prime minister..
4. Web site: Andrew Bailey announced as new Governor of the Bank of England. Bank of England. 20 December 2019. 2 April 2020. The Chancellor has announced that Andrew Bailey will become the new Governor of the Bank of England from 16 March 2020. Her Majesty the Queen has approved the appointment..
5. News: Bank of England: What does the governor do?. 21 December 2020. BBC.com. 20 December 2019.
6. Book: Richards, Richard. The Early History of Banking in England (Rle Banking and Finance). 152.
7. News: Court of Directors. 2018-07-24. en.
8. Web site: Andrew Bailey. www.bankofengland.co.uk. en. 2020-03-16.