Prime Minister David Cameron's office says it will shortly announce the name of the next archbishop of Canterbury, according to AP.

Government and church officials declined Thursday, November 8 to confirm speculation about the choice. But The Times of London and the Daily Telegraph report that it is Justin Welby, the bishop of Durham. He would succeed Rowan Williams as head of the Church of England and spiritual leader of the world's 77 million Anglicans.

The decision will be announced Friday morning.

Betting agencies Ladbrokes and William Hill stopped taking bets on the new archbishop this week after a flurry of wagers on Welby.

If it is Welby, it will mark a rapid rise through the church after only one year's experience as a bishop. The 56-year-old Welby had worked in the oil industry.