| 6.4°C Dublin

New Central Bank boss

FINANCE Minister Michael Noonan (right) has said he hopes candidates to replace Patrick Honohan as Central Bank governor will be in place by September and a new governor named by November.

Mr Honohan plans to step down later this year but in a departure from previous practice, the Government has retained an international head-hunter to identify his replacement.

Before the crash, the position usually went to a top official in the Department of Finance.

Mr Noonan was speaking at the publication of the National Treasury Management Agency's 2014 report.

The minister said he expected the State's debt to GDP ratio to fall below 100pc by the end of next year.