Downing Street says Mark Carney still set to leave the Bank of England in 2019

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The Governor Of The Bank Of England Arrives At Number Ten Downing Street
Bank of England governor Mark Carney is reportedly in discussions about extending his tenure (Source: Getty)

Mark Carney is still on track to leave the Bank of England in 2019 according to the Prime Minister's spokesperson, in spite of reports he may be considering an extension to his time as governor in Threadneedle Street.

Carney is currently set to lead the Bank until the end of June 2019, three months after the UK leaves the EU, but 10 Downing Street today appeared to overrule the Treasury after reports it was considering offering a longer term in office.

"The governor said he intends to step down in June 2019," the Prime Minister's spokesperson said, adding that Carney's successor will be announced by the Treasury "in due course".

Carney will be scrutinised tomorrow on his plans by MPs on the Treasury Select Committee. The Financial Times reported that people close to the governor say he would be willing to extend his term.

Meanwhile, the BBC said the Treasury was concerned about the difficulty of recruiting a suitable candidate at a time when there is uncertainty over the future relationship between the UK and the EU. Carney could stay on for as much as another year, although no deal has been reached, the BBC said.

The Canadian was chosen by former chancellor George Osborne as governor in 2012, and was originally scheduled to finish in June 2021. However, he subsequently announced he intended to step down in 2019.

The Treasury advertised Carney's role in public for the first time ever, and had planned to carry out a near-identical process this time around. However, the Treasury has given no indication that the recruitment process has started in earnest.

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