Mark Carney will lead Bank of England through Brexit

Mark Carney is sticking around for Brexit.The Bank of England said Tuesday that Carney would stay as ...

Posted: Sep 11, 2018 3:07 PM
Updated: Sep 11, 2018 3:07 PM

Mark Carney is sticking around for Brexit.

The Bank of England said Tuesday that Carney would stay as governor until January 2020.

"I recognize that during this critical period, it is important that everyone does everything they can to support a smooth and successful Brexit," Carney said in a letter to UK treasury chief Philip Hammond.

The United Kingdom is due to leave the European Union on March 29, 2019. It is hoping to negotiate a divorce deal that would keep current trading arrangements in place until the end of 2020 but if it fails, there could be significant disruption to the UK economy and financial markets.

The first foreigner to lead Britain's central bank, Carney was appointed in 2013. The Canadian said at the time that he would serve until 2018. He had already agreed to extend his term to June 2019.

Speculation had mounted in recent weeks that Carney would be asked by the government to remain at the central bank. The pound dropped 0.2% against the dollar after the extension was announced.

The Bank of England has twice hiked interest rates under Carney's watch, most recently in August. Some economists have raised doubts about the case for rate hikes amid mixed economic data.

Hammond, who favors remaining close to the European Union, said Tuesday in parliament that keeping Carney at the central bank will "ensure continuity through what could be quite a turbulent period for our economy."

— Nada Bashir contributed reporting.

Minnesota Coronavirus Cases

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Cases: 441935

Reported Deaths: 5885
CountyCasesDeaths
Hennepin918591461
Ramsey39405729
Dakota32551324
Anoka30638354
Washington19827221
Stearns17686184
St. Louis13453237
Scott1178693
Wright11485101
Olmsted1024870
Sherburne812364
Carver686636
Clay643278
Rice595266
Kandiyohi551069
Blue Earth533833
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Chisago446331
Benton414885
Winona383946
Douglas370366
Nobles364646
Mower358026
Goodhue340757
Polk326754
McLeod321644
Morrison308743
Beltrami305746
Lyon298735
Itasca281143
Becker279438
Isanti279440
Carlton276942
Steele26879
Pine263813
Freeborn237219
Todd230029
Nicollet222136
Brown212334
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Cass203823
Meeker197433
Waseca187515
Martin168226
Wabasha16712
Roseau164916
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Redwood138527
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Houston133213
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Fillmore12084
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Rock108511
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Watonwan10548
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Murray8585
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Swift82617
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Cases: 300884

Reported Deaths: 4197
CountyCasesDeaths
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Linn17563269
Scott15228161
Black Hawk13552228
Woodbury12896175
Johnson1191749
Dubuque11229148
Pottawattamie8863112
Dallas874169
Story857433
Webster464768
Cerro Gordo458766
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Clinton445461
Warren430637
Marshall424561
Buena Vista389029
Muscatine382275
Des Moines377340
Plymouth347967
Wapello336796
Jasper315955
Lee310828
Marion298852
Jones268949
Henry262130
Carroll252233
Bremer240048
Crawford227622
Boone214116
Washington213531
Benton207543
Mahaska189936
Jackson189631
Tama184757
Dickinson183225
Delaware171136
Kossuth169241
Clay165319
Wright161724
Fayette157022
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Hamilton156828
Hardin153129
Harrison152961
Winneshiek150819
Clayton149848
Cedar149119
Butler145423
Page143115
Floyd137236
Cherokee137125
Mills135216
Lyon133132
Poweshiek131024
Hancock127924
Allamakee125927
Iowa122122
Calhoun12159
Jefferson118623
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Winnebago117229
Madison11639
Mitchell114634
Louisa113729
Cass111741
Chickasaw110111
Sac110115
Emmet109931
Appanoose108838
Union107922
Humboldt103919
Guthrie102124
Shelby101026
Franklin99818
Unassigned9370
Palo Alto8969
Keokuk84225
Montgomery82722
Howard81119
Monroe79918
Pocahontas77211
Clarke7717
Ida73530
Greene6837
Davis68221
Adair68120
Lucas6458
Osceola6349
Monona62316
Taylor5889
Worth5873
Fremont5005
Van Buren49112
Decatur4744
Ringgold4229
Wayne41321
Audubon4118
Adams2923
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