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Report: UK may postpone naming next Bank of England chief until after Brexit

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Report: UK may postpone naming next Bank of England chief until after Brexit

U.K. Chancellor of the Exchequer Sajid Javid may wait until after the Oct. 31 Brexit date before naming a new head of the Bank of England amid uncertainty over the fate of Prime Minister Boris Johnson's government, Bloomberg News reported, citing a source familiar with the matter.

The source said Javid is flexible on the timeline for the appointment of a successor to BoE Governor Mark Carney and that he has yet to come up with a list of final candidates for the job. Carney is to step down at the end of January 2020.

A spokesman for the U.K. Treasury said Carney's successor is still expected to be named in the autumn, the same timeline given by Javid's predecessor, Philip Hammond.

Apart from the BoE decision, Javid may also have to delay his next budget to 2020 if Johnson's government, which was just formed in July, is forced into a general election in September, according to the report.

Labour Party leader Jeremy Corbyn said last week that he would propose a no-confidence vote against Johnson's government "at the earliest opportunity" in a bid to trigger a general election and stop a no-deal Brexit. Johnson has repeatedly said the U.K. should leave the EU by Oct. 31, with or without a Brexit deal in place.

Johnson attempted to restart negotiations with Brussels on Aug. 19 by proposing the removal of the Irish backstop solution in the Brexit deal. However, European Council President Donald Tusk rejected that call, saying the U.K. lacked "realistic alternatives."

As a no-deal Brexit remains the default path forward, U.K. officials will stop attending most EU meetings from Sept. 1 so they can focus on Brexit preparations, the government announced Aug. 20. Officials and ministers will attend only the EU meetings on security and other issues of significant national interest to the U.K.