The former governor of the Reserve Bank of India Raghuram Rajan yesterday confirmed that he would not apply for the post of the governor of the Bank of England. which would be vacant next year. The trade analysts predicted that Rajan would be the next chief of the Bank of England but he himself declined to apply for the post and showed his interest in teaching in the University of Chicago He described himself as an academician, not a professional Banker. He is presently working as a professor in the Booth School of Business of the University of Chicago. He also added that he was happy with his profession which gave him mental satisfaction. The tenure e of the present Bank of England governor Mark Cartney will be ended on June 2019 and hence the experts were of the opinion that Rajan would be a fit person for the post as the British Finance Minister Phillip Hammond expressed his intention to
chose candidates from abroad. Andrew Baily, a former deputy governor of the BOE will be a strong contender for the post according to some trade analysts. Other suitable names are Augustine Carstens the Mexican national who is the General manager of the Bank of International Settlements, Minouche Shafik the chairperson of the London School of Economics and Smriti Vadera who is a professor of Santander UK Rajan was the chief economist of the International Monetary Fund and he predicted about the global crisis in 2007 . He has opined that the crisis of the banks is over for the time being. and the situation of the world market will become normal within a few years. When asked about the decision of purchase of assets of worth 435 billion pounds of the Bank of England was pertinent he replied that it would be unethical to comment on this issue because he was not very much accustomed with the British economy.