Mark Carney has indicated he is prepared to stay on as Bank of England governor in order to ensure a "smooth Brexit" and an "effective transition" at the UK's central bank.
During a meeting with the Treasury Select Committee on Tuesday, Carney confirmed he has been in discussions with Chancellor Philip Hammond about extending his term although he also noted the decision rested with the government.
He added he expected a conclusion to be made "relatively soon" in order to remove any uncertainty.
Carney commented: "I fully recognise during this critical period, it is important everyone does everything they can to help with the transition of exiting the European Union. I am willing to do whatever I can in order to promote both a smooth Brexit and an effective transition at the BoE.
"It is an important time and we have an important supportive role to make sure, whatever Brexit the government negotiates, it is a success - and providing a measure of continuity should help that."
In October 2016, Carney said he would step down in June 2019, two years short of the eight years governors usually serve.
Last week, though, it was reported Carney had been asked by the Treasury to stay on another year in a move to settle the City's Brexit concerns. A government spokesperson responded, however, that the governor was still due to depart in June 2019.
Carney has already extended his term once at the Bank in a move to ensure continuity through the Brexit negotiations.
He had originally only intended to remain for five years after joining in 2013, but announced plans to stay an extra year four months after the Brexit Referendum in June 2016.
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 UK through dangerous waters has grown stronger as Brexit negotiations have dragged on.
"He will install a measure of certainty on monetary policy, which provides some air cover through what will surely be an unpredictable spell.
"As BoE governor, Carney has not always been universally popular, but appointing him as temporary caretaker through this period of transition does make sense."
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