After 33 years at the Bank of England, Deputy Governor Paul Tucker has decided to resign. "It has been an extraordinary honor to serve at the Bank of England over the past 30 years," Tucker said. "I am very proud that, through the bank and the wider central banking community, I have been able to make a contribution to monetary and financial stability. I am looking forward to supporting Mark Carney as he arrives at the bank." Carney is set to become governor of the central bank next month. Simon Nixon of The Wall Street Journal writes that Tucker's resignation was inevitable after he was passed up for the top spot.

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