Carney Extends Term As Bank of England Governor To Help Smooth Brexit

Share

In his acceptance letter, the Bank of England governor wrote: "I recognise that during this critical period, it is important that everyone does everything they can to support a smooth and successful Brexit".

Carney was originally scheduled to step down in June 2019, but U.K. Treasury chief Philip Hammond, the chancellor of the Exchequer, said in a letter to Carney that the.

It would have left him in the hot seat for just three months after Britain formally leaves the European Union in March, leaving a newcomer to navigate the aftermath of the divorce.

Jamie Dimon: I Could Beat Trump Because I’m ‘Smarter Than He Is’
The company said its goal is to attract an additional $1 billion from outside investors. Dimon later said he wished he hadn't said that, adding, "I'm not a political expert".

However, earlier this year Chancellor Philip Hammond said he might look overseas again for a successor to Carney.

On Sir Jon's reappointment, Mr Hammond said: 'I'm delighted to announce the re-appointment of Sir Jon Cunliffe for a further term as Deputy Governor, and I'm confident his extensive experience will continue to be a valuable asset to the Bank of England'.

"I deeply appreciate your support and that of the Prime Minister". "Whoever would take over, had they taken over in June next year, or now its going to be January 2020, would be looking at a very gradual policy normalization, subject to the negotiations in terms of our relationship with the European Union".

Mirrorless Lexus ES Going On Sale In Japan This October
The cameras transmit their images onto five-inch displays positioned inside the cabin at the base of the A-pillars. With Lexus's "Digital Outer Mirrors", the typical glass mirror pods are replaced by rear-facing digital cameras.

Anthony Gillham, head of investments at Quilter Investment, commented: "If Carney's tenure is extended he will have his work cut out, but the case for an experienced captain to guide the United Kingdom through risky waters has grown stronger as Brexit negotiations have dragged on". "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". "I certainly can't make announcements on behalf of the government but I'll do whatever I can to support this process".

"In a sea of Brexit political pygmies the governor of the Bank of England is one of the only sane voices at the table, so it is welcome news he is staying on".

The Canadian replaced Mervyn King in 2013, becoming the first non-Briton to be appointed governor in the Bank's 300-year history.

Hurricane Florence map uses an unfortunate graphic to display devastation
While Florence is no longer considered a major hurricane, its reach has expanded, threatening residents from Georgia to Virginia. Saturday's scheduled game between SC and Marshall has been canceled.

Share