Car­ney may con­tinue as Bank of Eng­land gov­er­nor

Banking Frontiers - - News Regulator -

Bank of Eng­land is ex­pected to have Mark Car­ney con­tinue as gov­er­nor and help man­age the con­se­quences of Brexit in March 2019. Car­ney con­firmed he had dis­cussed with the govern­ment how he could help the coun­try tran­si­tion out of the Eu­ro­pean Union and es­tab­lish it­self as a stand­alone econ­omy. Car­ney is the first for­eigner to serve as Bank of Eng­land gov­er­nor. When he was ap­pointed in 2013, he in­di­cated he would serve un­til 2018 but later ex­tended that dead­line to June 2019. He told a UK par­lia­men­tary com­mit­tee he is rec­og­niz­ing that dur­ing this crit­i­cal pe­riod, every­one does ev­ery­thing they can to help with the tran­si­tion to ex­it­ing the Eu­ro­pean Union and he wants to his bit in this ex­er­cise as well. Car­ney, a Har­vard-ed­u­cated econ­o­mist and for­mer Gold­man Sachs banker, was gov­er­nor of the Bank of Canada be­fore his UK ap­point­ment.

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