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Treasury denies report it requested Carney to remain longer at BoE

LONDON (Reuters) – The Treasury denied a newspaper report on Tuesday that the government had requested Bank of England Governor Mark Carney to remain on for an additional yr past his scheduled departure in June 2019.

FILE PHOTO: Bank of England Governor, Mark Carney, speaks in the course of the central financial institution’s quarterly Inflation Report news conference in London, Britain, August 2, 2018. Daniel Leal-Olivas/Pool by way of REUTERS/File Photo

“We don’t recognise their reporting at all,” a Treasury spokeswoman mentioned when requested concerning the article within the Evening Standard newspaper.

A diary merchandise within the newspaper mentioned the ministry had “quietly approached” Carney about staying one other yr to offer continuity as Britain leaves the European Union.

“Our position is the same – we plan to start recruitment soon,” the ministry spokeswoman mentioned.

Spokesmen for Prime Minister Theresa May and the BoE declined to touch upon the report.

The worth of sterling has fallen sharply since April as traders fear concerning the lack of progress in Brexit talks.

Carney agreed to serve 5 years, somewhat than the same old eight, as BoE governor when he moved from his native Canada to Britain in 2013. In 2016, shortly after British voters determined to depart the European Union, he agreed to remain an additional yr, maintaining him within the job till June 30, 2019.

Carney mentioned in July he doesn’t intend to alter that plan.

The Evening Standard mentioned government officers had been struggling to discover a candidate sturdy sufficient to interchange him.

The particular person most tipped to be Carney’s successor is Andrew Bailey, a regulator with 30 years of expertise on the Bank. He is presently head of the Financial Conduct Authority, one of many nation’s most important watchdogs for the monetary companies business.

The Evening Standard is edited by former Chancellor George Osborne who appointed Carney to the Bank.

Reporting by William Schomberg and William James; modifying by Stephen Addison

Our Standards:The Thomson Reuters Trust Principles.

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