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World

Media guessing at Mark Carney's future

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World

Media guessing at Mark Carney's future

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COMING UP:Media guessing at Mark Carney's future

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00:00:00
>> Will he or won't he? Bank of England Governor Mark Carney has people guessing at his next step. In the summer, he was expected to announce plans to serve a full eight-year term. But as Halloween loomed, so did reports that he would quit in 2018. Reuters' Bill Schomberg in London says Euro-skeptic MPs may be feeding the rumors.
00:00:21
>> Well some people have called it a plot, I think you can certainly say that there has been quite a long campaign of criticism of the Bank of England Governor. Many people who supported Brexit are angry that he was giving warnings about the economic hit from a Brexit vote.
00:00:39
And now that that hasn't appeared immediately in the economic data for the UK, they've redoubled their criticism of Carney.>> Carney took over as Governor in 2013, he was appointed for an eight year term, but with an option to leave after five. Now the speculation isn't just about when, it's also, why?
00:00:58
Carney says the decision is about personal factors, not political ones. But his relationship with Theresa May and her team could be critical.>> Well, the relationship between the government and the Bank of England is actually the key relationship for Carney. I think he wants to be clear about how Prime Minister Theresa May feels about his work at the Bank of England.
00:01:19
I would suspect that she would be keen to avoid unnecessary disruptions and uncertainties hanging over the UK economy. There are enough of those as it is anyway. And Philip Hammond, her Finance Minister, has been very clear that he thinks that Mark Carney should stay on for the extra three years and he has praised the work he has done so far.
00:01:37
We could know the truth by the end of the week. Some think Carney will make the announcement at his scheduled rate setting meeting on Thursday. If it comes to it, former Bank of England Deputy Governor Andrew Bailey is among those seen as a potential successor.