Spain in no rush to pick a new central bank governor, economy minister says

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- The Spanish government is in no rush to pick a successor to the current Bank of Spain Governor Pablo Hernandez de Cos, whose term ends in June, as his deputy could temporarily replace him until September, Spanish economy minister Carlos Cuerpo said on Wednesday.

The last day of De Cos' six-year term is June 10 and the government has yet to propose a candidate to succeed him at the helm of the country's central bank, which entails a seat at the European Central Bank's governing council.

Cuerpo said on Wednesday there was still time as the deputy governor, Margarita Delgado, could take charge until her own term ends in September.

"The date of June 11...is not a binding date in the sense that the Bank of Spain's own regulations provide for the deputy governor to be in office in the absence of the governor," Cuerpo told reporters.

"The deputy governor has an extended mandate until September, so we are in no hurry to have it closed before the 11th," he said.

De Cos' replacement comes as the ECB is widely expected to cut rates during its next meeting on June 6.

Under Spanish legislation, the government picks a central bank chief and the king formally appoints him or her for a six-year term.


(Reporting by Emma Pinedo and Jesús Aguado; editing by Inti Landauro and Ros Russell)

((emma.pinedo@thomsonreuters.com; +918 35 68 34;))

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