Raghuram Rajan to be governor of the Bank of England? This top job may go to ex RBI Guv
Raghuram Rajan, the famed Chicago-based economist, has an 'impeccable international economics and central banking experience, and significant achievements at the Reserve Bank of India' that may work in his favour as Philip Hammond, UK chancellor kicks off the process to select the next BoE governor.
Raghuram Rajan, former RBI governor, has emerged as a leading contender for the prestigious post of governor of the Bank of England to replace Mark Carney next year. Raghuram Rajan, however, has given no such indication that he would like to take the top job at BoE. London-based Financial Times counted Rajan among top six candidates whose names are doing the rounds to replace Carney at BoE. "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," FT reported in a report.
Raghuram Rajan, the famed Chicago-based economist, has an 'impeccable international economics and central banking experience, and significant achievements at the Reserve Bank of India' that may work in his favour as Philip Hammond, UK chancellor kicks off the process to select the next BoE governor. Other five names include Andrew Bailey, chief executive of the Financial Conduct Authority, Ben Broadbent, deputy governor for monetary policy, Shriti Vadera, chair of Santander UK, Andy Haldane — BoE chief economist and Minouche Shafik, director of the London School of Economics.
Earlier, Raghuram Rajan featured in the list of probables for Nobel Prize in Economics in 2017. Rajan was one of the six economists on the list of probable winners complied by Clarivate Analytics, a company that does academic and scientific research and maintains a list of dozens of possible Nobel Prize winners based on research citations.
Raghuram Rajan, who at 40 was the first non-western and the youngest to become the chief economist at the International Monetary Fund, shot to big fame three years after he predicted a financial crisis at an annual gathering of economists and bankers in the US in 2005. Rajan was appointed RBI Governor by the previous UPA government in 2013 and although he wanted a second term he was not offered an extension, which most of his predecessors got, by the current NDA regime.
Raghuram Rajan is currently the Katherine Dusak Miller Distinguished Service Professor of Finance at the Booth School of Business, University of Chicago.