Mark Carney To Stay In Place Up To 2020
UK finance minister Philip Hammond informed that Mark Carney, BoE Governor, will remain as the Central Bank’s head until 2020 instead of 2019, so that there won’t be any more obstacles to Brexit. Additionally, Jon Cunliffe, Deputy Governor, would serve an additional 5-year term until October 2023. Investors digested the news positively.
The Governor himself said: "I am willing to do whatever I can in order to promote both a successful Brexit and an effective transition at the Bank of England and I can confirm that I would be honored to extend my term to January 2020".
Investec economist Philip Shaw noted:"It would have been preferable to have avoided a piecemeal extension to his term at the Bank. But bearing in mind the uncertainties in the economy, I think it's a good thing he's staying".