All bets are off on the next BoE governor

Paul Tucker is now being seen as a certainty to be named the next governor of the Bank of England.

Bookies, including Paddy Power, have stopped taking bets on Tucker (pictured) with many commentators expecting him to be confirmed ahead of the chancellor’s Autumn Statement on 5 December.

Already one of the two deputy governors at the Bank, an internal appointment had been expected and this is reflected in the odds with Adair Turner now a rank outsider for the role at 11/1.

The National Institute of Economic and Social Research president Terence Burns is 10/1, as is Sir John Vickers.

King’s tenure does not officially end until 30 June, but pressure is mounting for his successor to be named sooner rather than later. The Bank first advertised the job in September and the list of runners and riders has gradually been whittled down with early names in the frame, such as Goldman Sachs chairman Jim O'Neill, who was tipped for the job as early as April, falling by the wayside.