March 6, 2019 / 6:58 PM / 2 months ago

ECB's Lane clears another hurdle on way to board seat

FILE PHOTO: Governor of the Central Bank of Ireland Philip Lane speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne

FRANKFURT (Reuters) - The European Central Bank’s rate-setting Governing Council has no objection to Irish central bank chief Philip Lane joining the bank’s executive board when Peter Praet’s mandate expires at the end of May, the ECB said in a formal opinion on Wednesday.

The appointment of Lane, the sole candidate for the board position, is considered a done deal and much of the confirmation process is now seen as a formality.

Reporting by Balazs Koranyi; Editing by Hugh Lawson

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