The appointment of Mark Carney as the next governor of the Bank of England is a personal coup for George Osborne, the UK Chancellor of the Exchequer.

The Bank of Canada governor always had been at the top of Osborne's list but until recently had appeared to rule himself out of contention, arguing he wasn't interested in the post. Carney's change of mind has handed Osborne a welcome moment of political theatre and a much-needed vote of confidence after a year during which his economic strategy and judgment has been widely questioned.