Chief economist to succeed Lomax as BoE deputy

Charles Bean, the chief economist at the Bank of England, will replace Rachel Lomax as deputy governor responsible for monetary policy when she steps down at the end of June.

Mervyn King, the governor of the Bank of England, said: "I am delighted that the Treasury has asked Charlie Bean to take on this vital role overseeing our monetary policy work."

Bean was touted in the British press as King's preferred candidate for the role.

"Bean's appointment is no surprise and tends to underscore the s