Carney to review lack of female banknotes characters

Mr Carney said it "is not the Bank's intention" to have no female characters on its banknotes Credit: Bank of England

The new Bank of England Governor has said he is to review the lack of female faces on the back of banknotes after his predecessor's decision to replace the only woman, 19th century prison reformer Elizabeth Fry, on the £5 note with that of Sir Winston Churchill.

Replying to a letter from Mary Macleod, the Conservative MP and chair of the all-party group of women in Parliament, Mark Carney said he "fully understood the concern that has been raised by you, and many others, about the potential absence of a female character."

He added: "I believe that our notes should celebrate the diversity of great British historical figures and their contributions in a wide range of fields."

Mr Carney, who succeeded Lord King two days ago, revealed it will be discussed at the next BoE meeting on 17th July, with a public announcement on the issue before the end of the month.