Mark Carney is the first foreign governor in the 318-year history of the Bank of England. The overwhelmingly positive reception to his appointment is testimony to the strength of his personal credentials for one of the toughest jobs in global finance. It is also a resounding statement that Britain is ready to hire the best talent for top posts.

Just months ago, Mr Carney emphatically denied he was in the running to succeed Sir Mervyn King. His lack of candour is excusable given the sensitivities of his current employer, the Bank of Canada, and the unpredictable reaction in financial markets.

In a field in which experience was a key criterion, Mr Carney was an outstanding candidate. It is to the credit of George Osborne that he doggedly pursued Mr Carney and, like Canada’s celebrated Mounted Police, succeeded in getting his man.