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Wednesday September 18th, 2019 10:32AM

Bank of England's governor 'willing' to extend time at helm

By The Associated Press

LONDON (AP) — Bank of England Governor Mark Carney all but confirmed Tuesday that he is to stay at the helm for longer than planned in order to help ensure Britain leaves the European Union in as smooth a fashion as possible.

Following days of speculation about an extension beyond his planned June departure, Carney told a committee of lawmakers that he understands that during "this critical period" that everyone should do what they can to ensure Brexit is smooth as possible.

"Accordingly 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.

Carney, a Canadian, took the top job at the Bank of England in July 2013 on a five-year term. However, he extended it by a further year in the wake of Britain's decision to leave the EU in June 2016.

With Brexit due March 29, 2019, Carney confirmed he has been in talks with Britain's Treasury chief, Philip Hammond, about extending his tenure again. Many in the financial markets have been calling on Carney to stay longer to help reduce uncertainty during the Brexit process.

Carney, who is believed to have ambitions to return to Canadian politics, has said the government will announce details "in due course."

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy
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