FACT CHECK: Has Indian Economist Raghuram Rajan Been Appointed As The Bank Of England’s Governor?

Trevor Schakohl | Fact Check Reporter

A post shared on Facebook claims Raghuram Rajan, an Indian economist who formerly served as the governor of India’s Reserve Bank, has been appointed as governor of the Bank of England.

Verdict: False

There is no evidence that Rajan has been appointed to the position. The Bank of England has made no announcement about the alleged appointment.

Fact Check:

Rajan served as the International Monetary Fund’s chief economist and director of research from 2003 to 2006 as well as the Reserve Bank of India’s governor from 2013 to 2016, according to the University of Chicago. He joined the university’s Booth School in 2016 as a distinguished professor of finance.

The Facebook post says Rajan has now been “appointed as the Governor of Bank of England.” A May 8 tweet congratulating him for the supposed appointment received over 2,000 likes. Neither posts cite a source for the claim. (RELATED: Image Claims To Show Young Boy Who Stole $75 Billion From A Swiss Bank)

There is no evidence that Rajan has been appointed to the position. The Bank of England, the U.K.’s central bank, has not announced such a move in any of its press releases or social media posts. The University of Chicago has also not made any announcement about Rajan joining the bank.

The bank’s current governor, Andrew Bailey, is expected to serve until his term expires in 2028, according to the bank’s website. Bailey was named as the successor in 2019 to former Bank of England Governor Mark Carney.

In 2019, Rajan dismissed rumors that he had applied for the position. “I am perfectly happy in my job and that’s not a diplomatic statement it’s actually the truth,” he told BBC News.

Trevor Schakohl

Fact Check Reporter
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