Mark Carney has given his biggest signal yet that he might stay on as Bank of England governor for a full eight-year term, having previously said that he wouldn’t stay longer than five.
In an interview with the Financial Times ahead of Wednesday’s Fed rate hike, Carney said that he has “so much more” to achieve before he leaves his post.
The Governor of the Bank of England must commit to serving a term of eight years, but Carney was appointed by Chancellor George Osborne in 2012 on the understanding that he could leave the job after just five.
When he was first appointed, Carney said that he believed that he could do all he needed to in only five years, but now it looks like he might be softening to the idea of staying on for a full-term: “I’m not crossing off dates on the calendar,” he said.
“There is so much more to do at this institution, through this institution internationally, and as part and parcel of what this institution’s doing to really ensure that we’ve got a strong, sustainable, balanced recovery,” he said.
Carney has now been in the job for two and a half years, but told the FT that he also wants to “continue to evolve the way” the Bank of England works, adding “I think we’ve made a very good start on this stuff, but it really has a long way to go to really properly make it work”.
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