View more on these topics

Carney to stay at Bank of England until 2020

Mark-Carney-close-up-focused-700.jpgChancellor Philip Hammond has asked Mark Carney to stay on as Bank of England governor until 31 January 2020 to ensure a smooth exit from the EU.

The extension was agreed in an exchange of letters between the governor and the chancellor published this morning.

Bank of England deputy governor with responsibility for financial stability Jon Cunliffe has also been re-appointed, effective from 1 November 2018 and his term will last until October 2023.

The re-appointment of Carney ends speculation about who would lead the bank at a time of uncertainty related to the UK’s departure from the EU.

In a letter to Hammond, Carney says: “I recognise that during this critical period, it is important that everyone does everything they can to support a smooth and successful Brexit.”

He says: “Accordingly, I am willing to do whatever I can in order to promote both a successful Brexit and an effective transition at the BoE.”

Hammond says: “I’m delighted that the governor has agreed to stay in his role for a further seven months to support a smooth exit from the EU and provide vital stability for our economy.”



Govt to publish ‘no deal’ Brexit advice

Ministers are lining up the first in a raft of documents with advice on how to handle a no deal Brexit. The initial advice to businesses and individuals will cover “hair-raising scare stories” about Brexit, ministers say. The EU has 68 “Brexit preparedness” statements that is has already issued, and while UK ministers say hitting upon […]

Brexit exports take centre stage in new gov’t strategy

Plans to make Britain a “21st century exporting superpower” will be set out today in a new export strategy. International trade secretary Liam Fox will set out today the ambitions through better use of Britain’s overseas network, online tools and building extensive business-to-business networks. Last year £620bn of goods and services exported by British companies, […]


Economy undeterred by Brexit clouds

Britain’s economy rebounded in the second quarter despite Brexit uncertainty according to Office for National Statistics figures published today. GDP expanded by 0.4 per cent in April to June, but on an annual basis the growth rate picked up 1.3 per cent in the second quarter. This was only a touch above a nearly six-year low […]

Political risk and monetary policy

In the first video of a series of short interviews conducted with Investment Week’s Editor, Lawrence Gosling, Senior UK Equity Fund Managers Martin Cholwill, Richard Marwood and Henry Lowson discuss the effect that unfolding Brexit negotiations are having on their plans for positioning. The managers also address monetary policy, sharing their views following the latest […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm