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Carney hints at extending Bank of England term to full eight years

Mark Carney, governor of the Bank of England, needs to indicate by the end of this year whether he would like to extend his term at the central bank.

Mark Carney said he would need to decide this year if he wants to ask to stay on for a full eight-year term as Bank of England governor, his most explicit hint so far that he might do so.

In testimony to lawmakers in London on Tuesday, Carney said it’s a “tremendous honour” to have his current job and there is a “lot more to be done” at the central bank. It’s yet another signal from the Canadian that he could seek to stay for the full eight-year term permitted by U.K. legislation, instead of the five years he indicated when he was appointed.

Carney was named to the role in late 2012 by Chancellor of the Exchequer George Osborne. He succeeded Mervyn King at the London-based institution in July 2013, meaning he reached the half-way point of the five years he said he will serve at the end of 2015. The mystery surrounding his future has echoes of the buildup to his appointment, when he denied he had any interest in the BOE job and ruled out the possibility he would move from the Bank of Canada, where he was governor.


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