Bank of England (4)

The UK government has officially launched its search for the next governor of the Bank of England.

The current governor Mark Carney will step down from his post on 31 January 2020 after more than six years in the job.

With an annual salary of £480,000, which is unchanged from when Mr Carney was appointed in 2013, the job description says the postholder will be required to lead "a complex and powerful financial institution".

Chancellor Philip Hammond will make the appointment in the autumn. Launching the search, Mr Hammond said: "Finding a candidate with the right skills and experience to lead the Bank of England is vital for ensuring the continuing strength of our economy and for maintaining the UK's position as a leading global financial centre."

The Chancellor has previously warned that uncertainty over Brexit could put off potential applicants. However, experts have suggested internal candidates such as Mr Carney's deputy Ben Broadbent and chief economist Andy Haldane could be early favourites.

Mr Hammond praised Mark Carney's performance since his appointment in 2013, stressing he had "helped steer the UK economy through a challenging period". He added: "Under Mark's leadership the Bank of England has been at the forefront of reforms to make our financial system safer and more accountable."