Darling's Plan to Make Bank of England More Transparent; ECONOMY

Beginning of article

Byline: By Nevill Boyd Maunsell Economics Editor

The top jobs at the Bank of England are to be advertised in future as well as vacancies for outsiders on the Bank's interest-setting monetary policy committee.

Chancellor Alistair Darling announced the new system "to inject more openness and transparency to the process" as part of a radical shake-up at the Bank, along with new powers for the Financial Services Authority, in his annual speech at the Mansion House in the City of London last night.

It will be some time before the new job ads appear. The Bank's governor, Mervyn King has just been reappointed for a second five-year term.

Mr Darling said …