September 11, 2018 / 11:46 AM / 2 months ago

Highlights - Hammond confirms BoE Governor Carney extends term, updates on Brexit

LONDON (Reuters) - British Chancellor Philip Hammond told parliament on Tuesday that Bank of England Governor Mark Carney had agreed to extend his term until the end of January 2020.

He also said time was running out for Britain and the European Union to secure a Brexit deal ahead of the March 29 date for departure.

EXTENDING TERM OF BANK OF ENGLAND GOVERNOR CARNEY

“I have been discussing with the governor his ability to be able to serve a little longer in post in order to ensure continuity through what could be quite a turbulent period for our economy in the early summer of 2019.”

“I can tell the House today that the governor has agreed, despite various personal pressures to conclude his term in June, that he will continue until the end of January 2020, in order to help support continuity in our economy during this period.”

BREXIT - TIME IS RUNNING OUT

“Time is running out. We are working against the clock, we understand that. We will be working flat out over the coming weeks and months to achieve (a deal).”

Compiled by Andy Bruce, reporting by UK bureau. Editing by Andrew MacAskill

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below