Finance
Carney reportedly asked to extend term at Bank of England to steer through Brexit
REUTERS/Chris Watt
-
Evening Standard reports that Mark Carney has been
asked to stay as Bank of England governor for an additional
year. -
Carney is due to leave his role in June next year, but
the Treasury is reportedly keen for him stay until 2020 to
“provide continuity during the turbulence of Brexit,” according
to the report. -
Upon taking the job in 2013, he committed to a
five-year term, three years less than is traditional for a Bank
of England governor.
Mark Carney has reportedly been asked to extend his stay as Bank
of England governor for a further year,
a report from the Evening Standard on Tuesday said.
According to the newspaper’s The Londoner diary column, officials
from the Treasury have canvassed Carney about possibly staying at
the helm of the central bank until 2020, rather than leaving in
June next year, as is currently planned.
The report cites a desire from the government for him to
“provide continuity during the turbulence of Brexit” as the
reason behind the push.
Carney took over from Mervyn King as Bank of England governor in
2013, initially committing to a five-year term despite the
traditional protocol involving an eight-year term for governors.
In the months after Britain voted to leave the EU, however,
he committed to an additional year as governor, citing “the
importance to the country of continuity during the UK’s Article
50 negotiations.”
The Evening Standard also reports that the Treasury is
“struggling to find a candidate strong enough to replace
him.”
Aside from Carney, possible candidates for the governor job
include Andrew Bailey, the head of the FCA, Britain’s financial
regulator, and Ben Broadbent, one of Carney’s deputies.
When contacted by Business Insider, a Treasury spokesperson
said: “We will begin recruitment for the next Governor of the
Bank of England in due course.”
The Bank of England did not immediately respond to a
request for comment.
Our Brexit Insider Facebook group is the best place for up-to-date news and analysis about Britain’s departure from the EU, direct from Business Insider’s political reporters. Join here.
-
Business6 days ago
Langdock raises $3M with General Catalyst to help businesses avoid vendor lock-in with LLMs
-
Entertainment5 days ago
What Robert Durst did: Everything to know ahead of ‘The Jinx: Part 2’
-
Entertainment5 days ago
This nova is on the verge of exploding. You could see it any day now.
-
Business5 days ago
India’s election overshadowed by the rise of online misinformation
-
Business4 days ago
This camera trades pictures for AI poetry
-
Business5 days ago
CesiumAstro claims former exec spilled trade secrets to upstart competitor AnySignal
-
Business7 days ago
Screen Skinz raises $1.5 million seed to create custom screen protectors
-
Entertainment7 days ago
Dating culture has become selfish. How do we fix it?