Bank of England Governor Mark Carney says he can stay on if continuity will help ‘smooth’ Brexit transition

BANK of England Governor Mark Carney says he can stay on in the job if the continuity helps the Government “smooth” the Brexit transition.

Mr Carney told MPs on the Treasury Select Committee that he has discussed staying on past his June 2019 departure date with the Chancellor. He expects an announcement in due course.

The Bank of England boss 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 both a smooth Brexit and effective transition at the Bank of England.”

He added: “It’s an important time and we have an important supporting role to make sure that, whatever Brexit the Government negotiates and Parliament decides, that it is as much of a success as possible and providing a measure of continuity during this period should help that.”

An advert seeking a replacement for Mr Carney had been expected to be posted by the end of September.

But it is thought the increasing fears of a no-deal scenario have also increased the need for continuity at the top of the Bank. He could stay until 2020.

Downing Street was swift to insist Theresa May and the Chancellor wanted Mr Carney to stay.

The PM has clashed bitterly with him in the past over the Bank’s money printing policy.

But the PM’s official spokesman said: “You heard what the governor said earlier.

“The PM thinks he has done a good job and there will be more to say in due course.”

Mr Carney became the Bank’s Governor in 2013, succeeding Mervyn King and becoming the first non-Briton in the post.

Rumoured contenders to replace him in the top job have included Financial Conduct Authority chief executive Andrew Bailey and Minouche Shafik – a London School of Economics director and the Bank’s former deputy governor.

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