Another deputy makes it to the top

As in Ghana and Turkey last month, one of the deputy governors was promoted to take the top job at Bank Negara Malaysia.

Deputy governor Muhammad Ibrahim was named as successor to Governor Zeti Akhtar Aziz when she steps down at the end of the month after 16 years at the helm, according to Bloomberg.

"Given that it’s an internal appointment, we should expect a continuation of
policy that’s been set by Zeti," said Sim Moh Siong, a foreign-exchange strategist at Bank of Singapore Ltd. "Overall this is a market-friendly appointment."

Internal candidates seem to be the favoured pick for central bank governors these days.