Bookmaker suspends betting on who will be the next BoE governor
Online oddsmaker Betway has suspended betting on who will be the next governor of the Bank of England after an influx of money on Andrew Bailey, currently head of the Financial Conduct Authority (FCA).
Bailey has long been considered a leading candidate to replace Mark Carney when he departs in June 2019. Betway had him placed at 9-to-1, before “huge support” in the past few days forced them to stop accepting new bets.
“There had been some speculation that Andrew Bailey was a leading candidate to replace Mark Carney as the new Governor of the Bank of England and in the last few days we’ve seen huge support for him taking the role,” Betway’s head of public relations, Alan Alger, said in a statement.
“The current chief executive of the Financial Conduct Authority was available at 9/1, but as a result of the weight of support towards him, we’ve had no choice but to suspend the market.”
The head of the BOE is appointed by the UK chancellor of the exchequer. The finance ministry had no immediate comment and the FCA also declined to comment.