The Sunday Times reports Tucker, who has endorsed the use of quantitative easing by continually backing Sir Mervyn King’s votes, is the clear favourite for the job, adding his appointment could be finalised this week.

It reports there is growing pressure to name the new governor in the next few days, before the Autumn statement on Wednesday 5th December.

One of current governor Sir Mervyn’s (pictured) two deputies Tucker, 54, is in pole position to take the job ahead of two other main candidates, Lord Burns, the former Treasury mandarin and current chairman of Santander UK, and Sir John Vickers.

Vickers, a former Bank economist, led the review into breaking up Britain’s largest lenders recently.