Didn’t apply for top job at Bank of England: Raghuram Rajan

Refuting to the reports of applying for the governor’s post at Bank of England, Former Reserve Bank of India (RBI) Governor Raghuram Rajan has said that in recent times the job of a central banker has become more political and he hasn’t applied for any post. He made this remark during an interview with the BBC.

He said he was ‘perfectly happy’ in his job, adding that, it’s not a diplomatic statement but it’s an actual truth. 

“I am perfectly happy and I haven’t applied for any job,” he said.

The clip of the interview was published on Friday and the full interview will be telecasted on Monday.

When asked whether he was approached by the bank to apply for the post, he said, “I really believe that the central banker’s job has become much more political in recent times. For that, it’s best a country have somebody who understands the political structure within that country and how to navigate that. And so it seems to me that’s something that people have to take into account when they determine who they want as central bank governor.”

From the year 2013-2016, Raghuram Rajan was the governor of the RBI.

To replace Mark Carney this year, one of the world’s largest central banks, the Bank of England, will get the new Governor which will be selected by the United Kingdom Chancellor Phillip Hammond.

When asked if Rajan would be able to understand the challenges of Brexit and the politics of United Kingdom, he said, “It’s obvious that I’m an outsider and I have very little understanding of the deep ebbs and flows of politics in this country.”

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