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Mark Carney announces Bank of England shake-up

18 March 2014 Last updated at 23:48 GMT

Two new deputy governors have been named at the Bank of England, as part of a radical shake-up by governor Mark Carney.

Ben Broadbent will become deputy governor responsible for monetary policy, and Nemat Shafik will take charge of markets and banking.

Both will sit on the rate-setting monetary policy committee (MPC).

Robert Peston reports.