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| - Fact Check: No, Raghuram Rajan is NOT set to be the new Bank of England governor
India Today's Anti Fake News War Room found that claims of Raghu Rajan being appointed as the governor of the Bank of England are false. In 2019, it was reported that Rajan was a frontrunner but he said that he had not even applied for the job.
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India Today Fact Check
Andrew Bailey is the current governor of the Bank of England, and his term will continue till March 2028. In 2019, when it was reported that Rajan was a frontrunner for the post, he said that he did not apply for the job in an interview.
A social media post claimed that former Reserve Bank of India governor Raghuram Rajan has now been appointed as the governor of the Bank of England.
Many on Facebook shared similar posts that congratulated Rajan over his supposed appointment as the governor of the Bank of England and also lamented that he was not given more opportunities to work with the Indian government.
The India Today Anti Fake News War Room (AFWA) found this claim was false. Andrew Bailey is the current governor of the Bank of England, and his term will continue till March 2028. In 2019, it was reported that Rajan was a frontrunner for the post. At the time, he said in an interview that he did not even apply for the job.
The viral posts are archived here and here.
AFWA PROBE
When we searched, we did not find any credible news report that confirmed Rajan’s alleged appointment as the new governor of the UK’s central bank — this news would have made headlines in India and England.
The bank’s website also listed Andrew Bailey as the governor. He was appointed on March 16, 2020, and his term as governor will come to an end on March 15, 2028.
We did not find Rajan’s name in the list of past governors as mentioned on the bank’s website.
In 2019, some news reports claimed that Rajan was among the top contenders to replace Mark Carney, the then-governor of the UK’s central bank.
But in an interview with the BBC in July 2019, Rajan said that he did not even apply for the top job at UK’s central bank. On “Hard Talk”, Rajan told anchor Sarah Montague that central banking “has become much more political in recent times.” “It’s best a country has someone who understands the political situation within that country and knows how to navigate that,” Rajan added. “It’s obvious I’m an outsider and I have very little understanding of the deep ebbs and flows of politics in that country.”
Raghuram Rajan, reported front runner for Governor of the Bank of England appears to rule himself out telling @Sarah_Montague “the job has become much more political.” Watch the full interview on Monday. pic.twitter.com/Gl9hegDp9F — BBC HARDtalk (@BBCHARDtalk) July 19, 2019
This interview was reported by the Indian media as well.
Thus, we concluded that the claim that Rajan was now going to be the top boss at the Bank of England was completely false, based on some later-refuted speculation in 2019.
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