New Delhi, May 7: Congress MP Shashi Tharoor fell prey to faking news and tweeted about former Reserve Bank of India (RBI) governor having been appointed as the Governor of the Bank of England. Tharoor tweeted a news article on the same by a website. However, he later came across more news articles that pointed out that the report was fake as Rajan had not been appointed but was reportedly in the running for being the Governor of Bank of England. The Congress MP then posted another tweet pointing out that he was taken in by fake news.
According to reports, Raghuram Rajan may be among some of the world’s leading economists in the running for the post of Bank of England (BoE) governor as the UK government hunts for a candidate to take charge from next year. The current governor Canada-born Mark Carney is set to step down at the end of his term in June 2019. Carney became first outsider to take the role in 2013, after three centuries. Raghuram Rajan is currently working as the Katherine Dusak Miller Distinguished Service Professor of Finance at the Booth School of Business, University of Chicago.
Other five names in the race include Andrew Bailey, chief executive of the Financial Conduct Authority, Minouche Shafik, director of the London School of Economics Shriti Vadera, chair of Santander UK, Ben Broadbent, deputy governor for monetary policy and Andy Haldane chief economist at Bank of England.
The Financial Times stated in a report that “Attracting Raghuram Rajan, the highly respected Chicago-based economist and former Reserve Bank of India governor, would be a coup, as would securing Agustín Carstens, Mexico’s central bank chief and the new general manager of the Bank of International Settlements. Mr Carstens is an intellectual heavyweight in the central banker community.”
Raghuram Rajan has many feathers in his cap that may work in his favour ranging from his vast experience in international economics to heading a central bank. Philip Hammond, UK chancellor, will soon start the process to select the next BoE governor.