Bloomberg News

Tucker’s Odds on Becoming BOE Governor Narrow at Paddy Power

November 13, 2012

Bank of England Deputy Governor Paul Tucker’s odds of becoming the next governor narrowed at Paddy Power Plc. (PAP)

The price on Tucker replacing Mervyn King in June shortened to 1-3 from 4-9, meaning a successful 3-pound bet would win a 1- pound profit, the Dublin-based bookmaker said on its website. The second favorite for the role is Terence Burns, former Permanent Secretary at the Treasury, at 13-2.

Tucker’s position as the favorite for getting the top central bank job wobbled earlier this year as he and his colleagues were embroiled in the Libor scandal, and he briefly lost his lead position to Gus O’Donnell, former head of the civil service.

The application deadline for the Bank of England job was Oct. 8, and Chancellor of the Exchequer George Osborne plans to announce his choice by the end of the year. O’Donnell said he didn’t apply. Adair Turner, head of the Financial Services Authority, and John Vickers, a former central bank chief economist, are both tied at Paddy Power at odds of 7-1.

To contact the reporter on this story: Jennifer Ryan at jryan13@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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