The eagerly-anticipated appointment of the new Bank of England governor has been pushed back until after the general election.
Chancellor Sajid Javid has delayed the announcement of a successor to Mark Carney, who is leaving the role on Threadneedle Street at the end of January next year.
Javid was originally expected to unveil Carney’s replacement this autumn, but Treasury sources say he has put the decision on hold due to the sensitive timing around the current election.
If the current Conservative government wins the 12 December election, it is expected to name its appointment soon after the result.
The move comes amid BBC reports that Minouche Shafik, the head of the London School of Economics, is the current favourite to take on the top job in banking.
Shafik is one of several candidates being mooted by the government.
Financial Conduct Authority (FCA) boss Andrew Bailey, deputy governors Jon Cunliffe and Ben Broadbent, and former BoE lifer Sir Paul Tucker are all understood to have been in the running.
Santander chair Shriti Vadera is also thought to have made the shortlist.
The successor to Mark Carney will be taking over the central bank at a pivotal time for the UK economy, as Britain prepares to leave the EU by a newly-extended deadline of 31 January.
Brits will be heading to the polls before Christmas to vote in a new general election which was agreed in Parliament earlier this week.