Carney willing to stay on as governor to support ‘smooth’ Brexit

Written by Oliver Wade
05/09/2018

Bank of England (BoE) governor Mark Carney yesterday said that he is willing to do whatever he can to a promote a smooth Brexit process, when asked whether he will remain in his position after June 2019, his original planned date of departure.

The governor said that he was “not in a position” to make an announcement, but noted that he expects the Treasury will make an announcement “in due course”.

It has been revealed that chancellor Philip Hammond has discussed an extension with Carney, and he will make the final decision. However, the Treasury has declined to comment on the timetable for any decision regarding Carney’s future to be taken.

When speaking to MPs at the Treasury Select Committee, Carney said: “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 a smooth Brexit and an effective transition at the Bank of England.”

The governor added that he was “signalling a willingness to do whatever I can to support this process” and that it is expected to be resolved “relatively soon”.

Recently, speculation about Carney’s future has been rife after numerous reports the Treasury is considering offering him an extension. Despite this, a spokesman for the Prime Minister yesterday had to clarify that it is “still the plan” for Carney to leave his post at governor in 2019.

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