Bank chief willing to stay on after Brexit

Bank of England governor Mark Carney indicated that he is willing to extend his tenure to help ensure a smooth Brexit.

“Even though I have already agreed to extend my time to support a smooth Brexit, I am willing to do whatever else I can in order to promote both a smooth Brexit and an effective transition at the Bank of England,” he said when asked by parliament’s treasury committee on Tuesday whether he would stay on as governor past June 2019, when he is due to leave.

“The chancellor and I have discussed this. I would expect an announcement to be made in due course,” he said. “I made them aware of my willingness to do what I can to support the process and I leave the decision of the government for the government.”

Speculation about Carney’s future ramped up last week after the Evening Standard newspaper reported that he had been approached to extend his term by an additional year to provide further continuity after Britain leaves the EU in March.

His tenure has been unorthodox from the start. The former Bank of Canada chief was appointed in late 2012 after previously saying he was not interested in the job. He initially agreed to serve five years of what is usually an eight-year term. Following the 2016 Brexit vote, he agreed to remain in place an additional year to June 2019, to help steer the bank through the negotiations.