At the request of the Chancellor, the Governor has agreed to
extend his term to January 2020. The exchange of letters is
published today.
https://www.gov.uk/government/news/mark-carneys-term-extended-and-sir-jon-cunliffe-re-appointed-at-the-bank-of-england
In his letter, the Chancellor said:
“Further to our discussions and those that I have had with the
Prime Minister, I am writing to ask whether you would be able to
extend your term as Governor of the Bank of England to January
2020 to support a smooth exit of the United Kingdom from the
European Union and an effective transition to the next
Governor.”
In his reply, the Governor said:
“I recognise that during this critical period, it is important
that everyone does everything they can to support a smooth and
successful Brexit. Accordingly, I am willing to do whatever
I can in order to promote both a successful Brexit and an
effective transition at the Bank of England and I can confirm
that I would be honoured to extend my term to January 2020.”
HM Treasury has also announced that Jon Cunliffe has been
reappointed as Deputy Governor for Financial Stability for a
second five-year term.
Jon Cunliffe said: “I look forward to continuing to work with
Mark and all Bank colleagues to deliver our important mission
over the coming years.”
Bradley Fried, Chair of the Bank’s Court of Directors, said “The
Bank and its Court of Directors are delighted that Mark and Jon
have agreed to stay on. Continuity in the outstanding
leadership they provide will help the Bank succeed in our crucial
work”.
