The UK Treasury announced today that BoE Governor Mark Carney will extend his term until January 2020. Carney has originally planned to step down in June 2019. Chancellor of Exchequer Philip Hammond said in the release that I’m delighted that the Governor has agreed to stay in his role for a further seven months to support a smooth exit from the European Union and provide vital stability for our economy.
In the same release, Jon Cunliffe was re-appointed as Deputy Governor till October 2023.
Carney said in a letter to Hammond saying “I recognize that during this critical period, it is important that everyone does everything they can to support a smooth and successful Brexit.” And, “accordingly, I am willing to do whatever I can in order to promote both a successful Brexit and an effective transition at the Bank of England and I can confirm that I would be honored to extend my term to January 2020.”
