Un­cer­tainty over BoE gov­er­nor’s fate post

The Myanmar Times - - Business -

ME­DIA spec­u­la­tion is di­vided on the fate of the gov­er­nor of the Bank of Eng­land, Mark Car­ney, with com­pet­ing claims as to whether he is set to an­nounce his de­par­ture amid Brexit ten­sions.

The Cana­dian is on a five-year con­tract that ex­pires in 2018 but has an op­tion to ex­tend the job un­til 2021, a de­ci­sion the cen­tral bank has said will be made pub­lic by the end of this year.

Re­ports sug­gest Mr Car­ney will not take up the op­tion to stay on, with the Sun­day Times news­pa­per say­ing he was “dis­il­lu­sioned” with Prime Min­is­ter Theresa May’s Con­ser­va­tive gov­ern­ment.

Mr Car­ney has been crit­i­cised by euroscep­tic Con­ser­va­tives for his warn­ings of the eco­nomic im­pact of Brexit be­fore the June ref­er­en­dum vote to leave the Euro­pean Union.

But fol­low­ing spec­u­la­tion Mr Car­ney would be out the door in 2018, the Fi­nan­cial Times re­ported the gov­er­nor is “said to be lean­ing strongly to­wards stay­ing in his post” un­til 2021.

“Friends say Mr Car­ney is de­ter­mined to de­fend the Bank of Eng­land’s in­de­pen­dence in the face of a sus­tained at­tack by Brex­iters,” the news­pa­per re­ported.

The BoE de­clined to com­ment on the spec­u­la­tion that Mr Car­ney may an­nounce his de­ci­sion as soon as Novem­ber 3. –

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