Mark Carney just confirmed when he will step down from the Bank of England

 
Emma Haslett
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Governor Mark Carney Presents Bank of England's Financial Stability Report
Mark Carney will step down on 30 June 2019, he said (Source: Getty)

Bank of England governor Mark Carney has confirmed he will step down from his post as governor of the Bank of England at the end of June 2019.

In an appearance in front of the Treasury Select Committee today, Carney confirmed he will step down on 30 June even if Article 50 is delayed, adding that there are "limits" to his time in the UK.

Last month, Carney confirmed that he will stay in his role a year longer than expected to help secure an "orderly transition" during Brexit.

In a letter to the chancellor, he wrote: "I would be honoured to extend my time of service as governor for an additional year to the end of June 2019.

"By taking my term in office beyond the expected period of the Article 50 process, this should help contribute to securing an orderly transition to the UK's new relationship with Europe."

At the time Andrew Tyrie, chair of the Treasury Select Committee, said more clarification was needed - while others, such as vocal Brexit campaigner Chris Cope, said they were "surprised [Carney] doesn't feel the need to pack up rather sooner".

However, deputy governor Ben Broadbent said "the whole country should be grateful" Carney was staying in situ well into the Brexit process.

"We live in a democracy, people can comment on the way that all our policies are conducted.

"It is our job to be open and transparent about what we do. For our part, we're just focused on the job. We have a remit given to us by parliament and we look at all the economic evidence, and as economists regarding that remit we take the best possible decision we can at any point in time."

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