Global Macro Service > Research Briefings > United Kingdom

Carney conundrum reaches a resolution

The Chancellor’s decision to extend Mark Carney’s tenure as Governor of the Bank of England beyond what had been the planned departure date of next June was unsurprising given recent speculation. But that Mr Carney will only stay in post for an additional seven months was a little less expected.

That said, leaving in January 2020 will allow Mr Carney to use his institutional knowledge to support the UK’s exit from the EU, as well as giving the Treasury some breathing space in terms of averting further rows over any new Governor’s Brexit slant and the diversity of the MPC. But the implications for monetary policy are minimal.

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