We've lost faith in Bank of England
PA
It's pretty hard to remain a trusted pillar of modern society when you're personally overseeing the near-collapse of the banking system. Likewise it's not going to do your reputation a great deal of good when you're in charge of controlling runaway inflation and your primary activity seems to be to sit on your hands.
The Bank of England hasn't exactly been covering itself in glory over recent years, and as a result faith in it as an institution has fallen to a new low.