Bank of England vacancy may breach constitution

UK - The Bank of England may be left in breach of the terms of its legal constitution if Gordon Brown, UK Chancellor, fails to appoint a replacement for David Clementi, the outgoing deputy governor, by the weekend, the FT reported on Thursday.

The Bank of England Act 1998, which formalises the Bank's independence, stipulates that the Bank should have two deputy governors.

Mr Clementi leaves the Bank on Friday and the Treasury has not found a replacement. The job includes acting as the Bank's chief

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