Bank of England Governor Bailey will speak in ten minutes on central bank independence.

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Euro area governments, after preliminary vetting of ECB presidential candidates, are considering packaging the presidency with two other senior posts. Following last week’s application deadline, euro area finance ministers confirmed nominations of Dutch central bank governor Klaas Knot and Spain’s Pablo Hernández de Cos and discussed deciding all three appointments together. The proposal will be submitted to EU leaders for discussion with a target decision in December. Eurogroup chair Kyriakos Pierrakakis said two experienced, internationally respected candidates have been nominated and leaders may seek a joint settlement to build consensus. The process opens the political contest over who will set monetary policy for a euro area of more than 350 million people; ECB President Christine Lagarde said last month she will leave the post early in February to allow herself greater freedom to comment on political matters.