Mark Carney is has written to the UK Chancellor stating he will step down as governor of the Bank of England in 2019, when the UK is expected to have completed Brexit negotiations.
The date means he will extend his leadership by one year, as he initially said he would carry out the role until 2018 when he took on the job in 2013. However, it is three years shorter than a full eight-year term that is traditional for previous governors. It is reported he is keen to see the UK through its departure from the European Union; in his letter to Chancellor Philip Hammond, Carney (pictured) said he was "honoured" to serve longer than he had originally intended and hoped his decision would "help contribute to securing an orderly transition to the UK's new relationship with...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
