Chancellor Philip Hammond has started the process of finding a new governor of the Bank of England.
Whoever he chooses will replace current governor Mark Carney when he steps down at the start of 2020.
The Canadian economist, the first overseas governor of the Bank, took up the role on 1 July 2013 and had his tenure extended last year to provide continuity during the Brexit process.
The search has now begun for a successor to continue to steer the UK economy through Brexit and beyond.
“In today’s rapidly evolving economy the role of governor is more important than ever,” Hammond 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.”
The chancellor credited Carney with steering the UK economy “through a challenging period” as Britain exits the EU.
He added: “We are now seeing stable, low inflation and the fastest wage growth in over a decade. And under Mark’s leadership the Bank of England has been at the forefront of reforms to make our financial system safer and more accountable.”
Hammond extended Carney’s tenure until the end of January 2020 last September to ensure “continuity” while the UK grapples with Brexit.
In recent months Carney has issued stark warnings against the threat of a no-deal Brexit, most recently saying the risk was "alarmingly high" and that growth was guaranteed to fall in such a scenario.
Carney was initially due to step down in June this year, just months after the proposed Brexit date.