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UK PM May backs BoE's Carney

Monday, October 31, 2016 - 01:29

Prime Minister Theresa May believes Bank of England governor Mark Carney is the best man for the job and should stay on in his role, May's spokeswoman said on Monday, dampening speculation that he would leave his job in 2018. Ciara Lee reports

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A regular catch up between the British prime minister and the Bank of England governor, but under no ordinary circumstances. Theresa May now putting her weight behind Mark Carney to stay on in his role. The statement follows a weekend of conflicting media reports raising questions over whether he would leave in 2018 rather than take up an option to stay until 2021. Carney has come under fire from supporters of Brexit for his stance in the EU referendum campaign. Earlier this month, May took the unusual step of criticising the effects of the Bank of England's low interest rates. Carney responded that he would not be told how to do his job by politicians. (SOUNDBITE) (English), CIBC, HEAD OF FX STRATEGY, JEREMY STRETCH, SAYING: "He had been making some noises, or he appeared to be making noises that he could be prepared to stay the full eight years. And of course the issues between the Prime Minister and the Bank of England has certainly been amplified over the course of recent weeks." The possible early departure was being cited as a risk to sterling, which has already lost around a fifth of its value since Britain's Brexit referendum in June.

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UK PM May backs BoE's Carney

Monday, October 31, 2016 - 01:29