Betting suspended on next Central Bank governor

Paddy Power suspends betting following a rush of bets for Robert Watt

The nomination of a successor to outgoing governor Patrick Honohan is expected to be settled shortly

The nomination of a successor to outgoing governor Patrick Honohan is expected to be settled shortly

 

Bookmaker Paddy Power has suspending betting on the next Central Bank governor following a rush of bets for Robert Watt.

Mr Watt, currently secretary general of the Department of Public Expenditure, was at 7/2 to land the role on Tuesday but moved to 1/6 on Wednesday morning before the bookmaker stepped in to suspend betting.

“The money we’ve seen this morning would suggest that it’s a done deal which is why we’ve pulled the plug ahead of any formal announcement,” said Féilim Mac An Iomaire, a spokesman for Paddy Power.

The nomination of a successor to outgoing governor Patrick Honohan is expected to be settled shortly.

Final interviews for the role were conducted on Friday last with a shortlist or four candidates.

Those linked to the post include: Mr Watt; Philip Lane, Whately professor of political economy at Trinity College Dublin; former acting chief of the financial regulator Mary O’Dea.

Bloomberg reported on Wednesday that Mr Watt is among two final candidates being considered to lead the Central Bank.

While Minister for Finance Michael Noonan may make a recommendation to Government as soon as this week, Bloomberg, quoting a persn with knowledge of the matter, said it’s more likely he will do so after Budget 2016 is delivered.