Bank of England deputy: UK should be grateful Mark Carney is staying

Bank of England

Ben Broadbent says he is ‘extremely happy’ governor will stay until 2019 and believes pound could rebound if economy holds up. The Bank of England deputy governor, Ben Broadbent, has said the whole country should be grateful that Mark Carney is staying on as governor until 2019.

Speaking on BBC Radio 4’s Today programme, Broadbent also said the pound could rebound if the economy continued to surprise on the positive side.

Carney ended speculation about his future earlier this week by agreeing to stay on until Brexit negotiations with the EU have ended in 2019. This means he will serve an extra year, but that is still two years short of a full eight-year term.

Broadbent said: “I’m extremely happy that the current governor is staying. I think the whole country should be grateful that he is.”

When asked whether he would like to be the Bank’s next governor – Paddy Power is offering odds of 7-4 on this happening – Broadbent, a former Goldman Sachs economist, said: “He [Carney] is staying on another almost three years. That is far too far away for me to think about what I’m going to be doing then … I haven’t even thought about it.”

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