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Bank of England’s Mark Carney to extend tenure

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Bank of England Gov. Mark Carney has agreed to stay in post through January 2020, U.K. Treasury chief Philip Hammond said Tuesday.

“I have been discussing with the governor his ability to serve a little longer in post in order to ensure continuity through what could be quite a turbulent period for our economy,” Mr. Hammond told lawmakers in parliament, referring to the possible fallout from the U.K.’s exit from the European Union in March next year.

He said the governor agreed to stay until January 2020, adding seven months to a term that had been due to expire in June 2019.

The Treasury added that Jon Cunliffe, deputy governor for financial stability, was reappointed to serve another five-year term, through October 2023.

SourceWSJ

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