Mark Carney signals he could stay at Bank for longer

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Bank of England governor Mark Carney has suggested he may prolong his stay at the central bank to three more years, rather than the five he had originally planned.

Carney told the Financial Times he has “so much more” to do within the institution, and did not rule out staying for the full eight-year term.

He said: “I don’t see anything that’s changed . . . I mean, there is so much more to do at this institution, through this institution internationally, and as part and parcel of what this institution’s doing to really ensure that we’ve got a strong, sustainable, balanced recovery.”

Carney was appointed in 2012 and at the time the Treasury agreed he would serve for only five years, rather than the eight years set out in legislation.

After his appointment, Carney told the parliament he intended to limit his mandate to five years to fit in with his daughter’s education and because he thought he could accomplish what he wanted within that amount of time.

Treasury select committee chair Andrew Tyrie urged the governor to confirm his commitment to the role.

He told the newspaper: “The Treasury committee thought that eight years was an appropriate term for this job. Nothing has happened to change the committee’s view. [Carney] should see out his full term”.