Ben Broadbent and Nemat Shafik will become deputy governors at the Bank of England as Mark Carney leads the biggest management shakeup since the institution gained independence in 1997.

Islamist Mohamed Morsy of the Muslim Brotherhood was declared Egypt’s first democratic president by the state election committee, which said he had defeated former general Ahmed Shafik with 51.7% of last weekend’s run-off vote.

Egypt’s agonised passage from revolution to democracy was in limbo last night as the Muslim Brotherhood claimed victory in a presidential election while the generals who took over from Hosni Mubarak decreed it was they who would keep most power.

Egyptians choosing their president freely for the first time faced a daunting choice between a former general from the old guard and an Islamist who says he is running for God, leaving many voters perplexed and fearful of the future.