BoE Governor Mark Carney will appear in the Parliament for Inflation Report hearing today. While his views on the economy and interest rates will be scrutinized as usual, there’s another topic to watch. That is, whether Carney will extend his term or not.
The BBC reported yesterday that Treasury is in talks for extending Carney’s term once more. Carney, started the job in 2013, originally planned to just serve just five years and has already extended the term once to mid 2019. On the other hand, the government’s spokesman James Slack reiterated that “the governor has said that he intends to step down in 2019. That is still the plan,”
To stay or not to stay is definitely a questions to be asked by lawmakers today.
For now, it’s uncertain who will succeed Carney. It appears that Andrew Bailey the chief executive of Britain’s Financial Conduct Authority and a former BoE deputy governor, is a front-runner. But the government could look abroad again for the candidate.
