Bank of England governor Mark Carney is willing to prolong his term at the central bank to provide continuity amid Brexit, he said at a parliamentary hearing yesterday.
Carney, who was originally set to leave the role in June 2018, agreed to stay until June 2019 following the outcome of the Brexit referendum and the resulting uncertainty.
Carney said: “Even though I already agreed to extend my time to support a smooth Brexit, I’m willing to do whatever else I can in order to promote smooth Brexit and an effective transition at the Bank.
“And I would emphasize the second point as well, to make sure that the transition process is done in an effective and orderly manner.”
He added: “The chancellor and I discussed this, I would expect an announcement to be made in due course.“
The Financial Times reports that the Prime Minister Theresa May has endorsed Carney’s intention to remain in the role.
Carney’s announcement and its backing from the Downing Street follows recent reports that the government approached Carney to ask him to remain at the helm of Bank behind the scenes.