Tuesday, 11 September 2018

Mark Carney to remain Bank of England governor until 2020

Mark Carney will remain Bank of England governor until the end of January 2020, Chancellor Philip Hammond has told MPs.

Mr Hammond said the seven-month extension would "support a smooth exit" from the European Union.

The extension was agreed in an exchange of letters between the governor and the chancellor published on Wednesday.

Mr Carney said he was "willing to do whatever I can in order to promote both a successful Brexit and an effective transition at the Bank of England".

It is the second extension of his tenure as governor. When Mr Carney took over from Mervyn King in 2013, he agreed a five-year term with the option of a further three.
The typical term for the position has been eight years.

BBC     News.

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