Bank of England Governor Mark Carney said he is willing to stay on as governor and expects a government announcement either way soon.
During a Treasury Select Committee session, Carney who is expected to step back in March 2019 confirmed he had been talking to the chancellor about his future.
He said he was happy to do whatever he could “to promote a smooth Brexit and an effective transition at the Bank” but said the announcement was not his to make.
The Rt Hon. Nicky Morgan MP, chair of the Treasury Committee, said: “Stability is vital during this important period. The sooner the Government provides clarity, the better. Any extension to Dr Carney’s term should not be used to delay succession planning.”
Meanwhile, a Committee member asked Member of the Monetary Policy Committee (MPC) Silvana Tenreyo if the MPC sits ready to change its interest rate prediction of ‘limited and gradual’ against the implications of ongoing Brexit negotiations.
Refusing to be drawn Tenreyo said any decisions would be framed by the MPC’s remit of targeting 2% inflation and supporting employment and growth.
Andy Haldane, chief economist and executive director monetary analysis and statistics said market surveys revealed one in four now expected a ‘no-deal’ Brexit, up from one in five three or four months ago.
“On the implications for monetary policy of Brexit, it’s a bit dull when economists say it depends, but it does depend,” he added.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
