Lomax: I will not be next BoE boss

Former deputy governor of the Bank of England Rachel Lomax has ruled herself out of replacing Mervyn King next year, saying she has "moved on" from the central bank.

Lomax was believed to be the leading female candidate for the role, atfer the vacancy was advertised in The Economist in recent weeks. Speaking to BBC's Radio 4, she said she will not be applying for the post, which she described as a "huge role". The economist served on the Monetary Policy Committee and was deputy governor from 2003 until 2008, leaving just before the Lehman Brothers collapse. "We knew that something was bad happening, but we really didn't know, couldn't really imagine how bad it was going to be. I mean, I left the bank just before Lehmans collapsed and it's got a...