U.K.’s Javid Sees ‘No Need’ to Extend Carney’s Term at BOE

(Bloomberg) --

The U.K. Conservative Party sees no need to extend Mark Carney’s term as Bank of England Governor, according to Chancellor of the Exchequer Sajid Javid.

Speaking in a Bloomberg Television interview, Javid said his party would appoint a new chief “very, very, quickly” if it wins the election.

Brexit has thrown the Treasury’s search for a new governor into confusion, with the election the latest stumbling block in what’s been a chaotic appointment process. Javid had planned to make an announcement in the autumn, but now won’t do so until after the Dec. 12 ballot -- assuming the current government is re-elected.

Carney is due to leave the BOE on Jan. 31, the same day as the U.K.’s new deadline for leaving the European Union. That risks leaving his successor to deal with the economic consequences of a potentially messy departure with little time to prepare, and had boosted speculation Carney may have been asked to extend his term.

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