Mark Carney will lead Bank of England through Brexit

Mark Carney will see Britain through Brexit

"I can tell the House today that the governor has agreed, despite various personal pressures to conclude his term in June, that he will continue until the end of January 2020 in order to help support continuity in our economy during this period".

Mr Hammond wrote to Mr Carney: "An extension of your term would ensure there is continuity at the Bank during this exceptional period and would also allow for a new Governor to be appointed during the Autumn next year after the terms of the UK's withdrawal and the framework for the future partnership have been finalised".

Sir Jon Cunliffe, the deputy governor with responsibility for financial stability, has also been re-appointed, it added.

It also means he'll be available for longer should talks with the European Union fail and force a so-called hard Brexit in March 2019.

"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".

'I deeply appreciate your support and that of the Prime Minister.

Concerns have grown over recent months that the United Kingdom and European Union are potentially headed for a "no deal" Brexit which could well induce further significant market stresses, of which Sterling would likely bear the brunt.

Kofi Annan's life celebrated at state funeral
She described how her husband was always excited to return home, and thanked Ghana for giving the world such an extraordinary man. Annan was re-elected for a second term in 2001 and was succeeded by South Korea's Ban Ki-moon on January 01, 2007.

Government's mass surveillance of emails was illegal
The ruling cited a "lack of oversight of the entire selection process" and "the absence of any real safeguards". Snowden on Thursday tweeted that the judgement was a victory.

New Apple Watch To Detect Abnormal Heartbeats
The front camera is the same as the iPhone XS with a 7MP f/2.2 TrueDepth camera that also supports Portrait Mode and Animoji. Apple's event last night saw the arrival of three new iPhones and an upgraded version of the Apple Watch .

'They used to throw brick bats at Mark Carney about Project Fear but now it's Project Near'. The sooner the Government provides clarity, the better.

Carney's credentials in providing stable leadership during the tumultuous market conditions that followed the shock Brexit vote confirm him as a steady hand at the tiller in times of stress.

The extension isn't the first of Carney's tenure at Threadneedle Street.

He told MPs: 'It's likely that the real income squeeze will return for households across the country'.

The Bank of England said Tuesday that Carney would stay as governor until January 2020.

The announcement of Carney's appointment in 2012 came as a surprise, as Mr Carney had previously denied interest in the role.

Related News:

  • Fracking helped make the U.S.  the world's oil king

    Fracking helped make the U.S. the world's oil king

    The oil price decline in mid-2014 resulted in US producers reducing their costs and temporarily scaling back crude oil production. By comparison, Russian Federation and Saudi Arabia have maintained relatively steady crude oil production growth in recent years.
    First Look At The Last Remnant Remastered For PS4

    First Look At The Last Remnant Remastered For PS4

    Being as this is simply the Japanese teaser trailer , I'm betting Square Enix will be localizing this new version in the West. Recently The Last Remnant was removed from Steam for an unknown reason, which now makes sense with this announcement.

    Monkeypox mayhem as second case found

    Monkeypox is a rare yet typically non-dangerous infection caused by a virus native to Central and West Africa. The lesions progress to become small, fluid-filled blisters before scabbing over and falling off.
  • Dont play games with it: Florence takes aim at Carolinas

    Florence's center will approach the North and SC coast late Thursday and Friday but it's unclear where it will make landfall. Henry McMaster's message is pretty blunt: If you live in an evacuation zone, hit the road soon.
    We could have handled Rohingya crisis better, admits Aung San Suu Kyi

    We could have handled Rohingya crisis better, admits Aung San Suu Kyi

    Myanmar has denied allegations of atrocities, saying its military carried out justifiable actions against militants. Many Rohingya are fearful of returning to Myanmar if their safety and rights can not be guaranteed.
    Japan's Bid to End Whaling Ban is Top Issue at Conference

    Japan's Bid to End Whaling Ban is Top Issue at Conference

    Japan says that it uses both lethal and non-lethal methods, but that some information can only be gleaned after killing. The commission banned commercial whaling in the 1980s, but Japan is proposing to reinstitute it with catch limits.
  • Rashford developing quicker than Ronaldo did - Southgate

    Rashford developing quicker than Ronaldo did - Southgate

    The striker will now return to Manchester to prepare for this weekend's Premier League fixture with Jose Mourinho's squad. Rashford reportedly wants to break through at United, but he is eager to be given a chance in a central role.
    USA  bishops to work with Vatican on abuse

    USA bishops to work with Vatican on abuse

    Pope Francis will meet with USA cardinals and bishops Thursday to discuss the sex abuse scandal , according to the Vatican. In a letter to priests on Tuesday, he said he would be returning to Rome soon to discuss his resignation.
    Scientists Suggest Pluto Should Be Reclassified As A Planet

    Scientists Suggest Pluto Should Be Reclassified As A Planet

    Metzger has a new recommendation of how planets should be classified and why Pluto should be reclassified as a planet. The IAU told Fox News that it has not yet received a formal proposal to change its definition of a planet .
  • Bucks great Ray Allen inducted into Basketball HOF

    Bucks great Ray Allen inducted into Basketball HOF

    Scott followed Driesell and Hill and said if the Duke guys were going to go over their time limit, the Carolina guy can, too. Grant Hill thinks his Hall of Fame classmate Ray Allen is being undersold if he's only remembered as a 3-point shooter.
    Seattle Storm championship parade planned for Sunday

    Seattle Storm championship parade planned for Sunday

    It was the first WNBA Finals appearance for the No. 3 seed Mystics, who finished the regular season at 22-12. The Seattle Storm clinched their 3rd WNBA title Wednesday, beating the Washington Mystics 98-82.
    Brown signs bill requiring 100% clean electricity, updating RPS

    Brown signs bill requiring 100% clean electricity, updating RPS

    About 26.9% of the state's generation now comes from hydro, with 26.9% from renewables and 43.3% from natural gas. Assemblywoman Lorena Gonzalez Fletcher, D-San Diego, left, who carried the bill in the Assembly, reacts.

Most liked

Bezos to launch network of preschools: 'The child will be the customer'
Mr Bezos' net worth has risen by $64.7 billion this year alone as Amazon's shares have surged. Its vision statement comes from Mary's Place, an emergency shelter in Seattle.

Liverpool winger Shaqiri: Klopp always demanding more
Meanwhile, Liverpool FC will return to Premier League action on Saturday lunchtime when they travel to Tottenham Hotspur . Sadly they didn't win a title but now we try to make a step forward and try to win titles.

Latest Updates on Hurricane Florence and the Storm's Impact on Travel
Duke Energy Corp expected between 25 percent and 75 percent of its 4 million customers would lose power in the Carolinas. With the storm expected to "stick" on the high-pressure ridge, moving north, west, or northwest seems to be safest.

East Coast Gasoline Prices Are Surging Ahead Of Hurricane Florence
ET, Florence was 530 miles southeast of Cape Fear, N.C., moving west-northwest at 17 mph, the National Hurricane Center says . But it's such a large storm that the rain will keep coming down in the region no matter where it wanders.

Assassin's Creed Odyssey Trailer Goes All-In on Player Choice
CHOOSE YOUR OWN PATH Your decisions shape the world around you with over 30 hours of choice dialogue and multiple game endings. Find uncharted locations, uncover hidden treasures, or fight your way through entire fleets in naval battles.

Spotify now lets you download up to 10,000 tracks per device
Spotify has quietly lifted its 3,333 song download limit with its latest software update, according to Rolling Stone . Spotify apparently only allows you to download 3333 songs to a device at a time.

IPhone XS, XS Max: First Impression | ETPanache
Throughout 2018, Apple has been offering out-of-warranty battery replacements at a discount for some iPhone models. Chinese users however, will be able to actually use two physical SIMs with the new phones.

Check out the official iPhone XS, XS Max and XR promo videos
It has the same upgraded technology as the iPhone XS phones, and you can take Bokeh portrait shots with the help of software. Apple on Wednesday announced that they had stopped selling the iPhone 6 series and Android users won't let iPhone lovers be.

Turkish lira surges against United States dollar
Erdogan's son-in-law Berat Albayrak, who already serves as treasury and finance minister, will become the acting chairman of the fund.

Mac Miller Fans Held a Beautiful Hometown Vigil In Blue Slide Park
The exact cause of death is not expected to be known until a full toxicology report has been finalized in four to six weeks. In multiple interviews Miller said he had started using drugs including cocaine and opiates when he was just 15 years old.

Tesla Wireless Phone Charger will return with a price cut
However, the highlight of the charger is its design which is similar to that of Apple's . When it was initially listed, the Tesla wireless charger was listed for $65.

Could Cheslea make a move for Paulo Dybala in January?
The forward started his side's Serie A opener against Chievo last month, but did not play in the 2-0 win over Lazio and only managed 10 minutes off the bench in the 2-1 victory against Parma prior to the worldwide break.

Erdogan appoints himself chairman of Turkey's sovereign wealth fund
Rental and sale agreements in Turkey are often offered in euros and dollars to foreigners living in the country. Turkey's lira jumped sharply following news of the rate increase.

Author of 'How To Kill your Husband' charged with hubby's murder
Brophy's murder". "Divorce is expensive, and do you really want to split your possessions?", she wrote. She is scheduled for her first court appearance on Thursday afternoon.

Cynthia Nixon Unusual Bagel Order Is Causing Quite The Stir
The victor of the Democratic primary will face Republican Keith Wofford in the attorney general's race in the heavily blue state. From left, Letitia James, Sean Patrick Maloney, Leecia Eve, and Zephyr Teachout at a debate on August 28 in Manhattan.