24/04/2019 07:17 BST | Updated 24/04/2019 10:44 BST

Search On To Replace Bank Of England Governor Mark Carney

Carney is set to stand down next January.

The search for the next Governor of the Bank of England to replace Mark Carney is on, the Treasury has announced.

Chancellor Philip Hammond has launched the search to replace Carney when he stands down next January.

Hammond praised Carney’s “steady hand” in the role and said it was “vital” to find the right successor to ensure the ongoing strength of the economy.

“In today’s rapidly evolving economy the role of Governor is more important than ever,” he 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.”

Carney took up the post on July 1 2013 and will step down on January 31 next year, having extended his tenure twice.

The Treasury will employ a specialist head hunter and said the recruitment process has been designed to ensure the “most qualified candidate is appointed from the broadest possible pool of applicants”.

It expects to hold interviews over the summer, with the appointment being made in the autumn.

The next Governor will be paid £480,000 a year – a salary that has remained at this level throughout Carney’s tenure.

In the job description for the role, the Treasury said it welcomes candidates “irrespective of age, gender, ethnicity, sexual orientation or disability”.