25 Jun 2013
The Bank has been working with a note featuring the writer for the past two years, Sir Mervyn told MPs, indicating that it was likely that she would appear on the £10 note when the current version stops being printed.
His comments followed fears that the imminent removal of social reformer Elizabeth Fry from the £5 note would mean there were none in circulation featuring women - other than the standard image of the Queen's head.
Sir Winston Churchill is replacing Fry on a new note which will be issued from 2016, featuring the former prime minister against a Westminster background and above the quote: “I have nothing to offer but blood, toil, tears and sweat."
"The concern is that people think that we might find ourselves in the position where there are no women in the set of historical figures on our banknotes," said Sir Mervyn. "I think that's not true.
"The reason is that on the date... when Winston Churchill notes appear for the first time, it is not the case that Elizabeth Fry disappears the next day, those notes will continue to circulate for some while. [But] well before then, the announcement of the next historical figure will have been made."