UK Treasury asks Carney asked to extend his BOE term by a year - Standard

Dhwani Mehta FXStreet

According to the latest headlines cited by the Evening Standard newspaper, Mark Carney, the Governor of the Bank of England has been quietly approached by the UK Treasury to stay on for another year, despite saying he would only serve six of a seven-year term.

Key Highlights:

“The Londoner understands the Treasury is keen for him to stay on until 2020 so that he can provide continuity during the turbulence of Brexit.

It is also understood that they are struggling to find a candidate strong enough to replace him.

An extension to Carney’s term would be welcomed across the City and Whitehall, but could raise eyebrows from arch-Brexiteers such as the backbencher Jacob Rees-Mogg, who thinks the governor has been too candid about the damanging economic consequences of leaving the EU.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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