Choosing 'safe hands' Bailey suggests PM less than upbeat over Brexit

Bookies' favourite Andrew Bailey emerges as the cautious option from a varied list

There were plenty of names bandied around as likely candidates to be the next governor of the Bank of England but in the end the government has chosen the person who has been the bookies' favourite from the start.

When it came to it, the only thing surprising about Sajid Javid's decision to appoint Andrew Bailey to succeed Mark Carney was that the process took so long. And as the months dragged by, and Carney's term was extended twice, speculation grew that Bailey would be overlooked.