This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/live/2016/oct/31/mark-carney-bank-of-england-speculation-eurozone-gdp-business-live
The article has changed 15 times. There is an RSS feed of changes available.
| Version 11 | Version 12 |
|---|---|
| Theresa May welcomes Mark Carney's decision to stay at the Bank of England until 2019 – business live | |
| (35 minutes later) | |
| 7.46pm GMT | |
| 19:46 | |
| Some pro-Brexit Conservative MPs aren’t best pleased that Mark Carney will remain at the Bank of England until 2019, says the City AM newspaper. | |
| One leading Tory brexiteer told them that: | |
| My sense is that if [Carney] is going to stay to 2019 he needs to find a way to row in behind the Prime Minister and start to find a way to be a bit more positive. | |
| I would like him to stay and do a good job, and demonstrate some enthusiasm for leaving the EU, seeing as we are going to. | |
| More here. | |
| I got some snap reactions from Tories on #Carney's decision to stay. It turns out they're not all thrilled... https://t.co/0wRYV9msqw pic.twitter.com/XmkkH9VcxD | |
| 7.39pm GMT | |
| 19:39 | |
| Duncan Weldon, head of research at Resolution Group, suggests Mark Carney has played the game rather well.... | |
| A cynic might suggest Carney has just extended his effective term and made himself immune to political criticism. | |
| 7.33pm GMT | |
| 19:33 | |
| Adam Marshall, Director General of the British Chambers of Commerce (BCC), is pleased that Mark Carney has decided his future. | |
| But he’s also concerned that his replacement (whoever she or he is) will take over at a critical time: | |
| ”Businesses want stability at a time of economic change, particularly at key institutions like the Bank of England. | |
| Firms will be reassured that the recent speculation over the timing and nature of Mark Carney’s departure has been put to rest. However, the Governor will still be leaving at a sensitive time for the economy - so businesses will want to see a clear and ordered transition plan.” | |
| 7.18pm GMT | 7.18pm GMT |
| 19:18 | 19:18 |
| An interesting reaction from Rupert Harrison of BlackRock, the asset manager. | An interesting reaction from Rupert Harrison of BlackRock, the asset manager. |
| In classic Carney style, by choosing 6 years he has managed to ensure that he was right and everyone else was wrong | In classic Carney style, by choosing 6 years he has managed to ensure that he was right and everyone else was wrong |
| Harrison is a former advisor to George Osborne, who appointed Carney in the first place. | Harrison is a former advisor to George Osborne, who appointed Carney in the first place. |
| 7.09pm GMT | 7.09pm GMT |
| 19:09 | 19:09 |
| May: Carney's decision is good news for UK | May: Carney's decision is good news for UK |
| British prime minister Theresa May has welcomes Mark Carney’s decision to extend his term at the Bank of England by one year. | British prime minister Theresa May has welcomes Mark Carney’s decision to extend his term at the Bank of England by one year. |
| May’s spokeswoman says (via Reuters). | May’s spokeswoman says (via Reuters). |
| “The prime minister welcomes the governor’s decision to stay on beyond his initial five-year term. | “The prime minister welcomes the governor’s decision to stay on beyond his initial five-year term. |
| This is good news for the UK. It will provide continuity and stability at the Bank of England as we negotiate our exit from the European Union and look to take advantage of the opportunities that Brexit will present.” | This is good news for the UK. It will provide continuity and stability at the Bank of England as we negotiate our exit from the European Union and look to take advantage of the opportunities that Brexit will present.” |
| However, there’s no word on whether May would rather Carney had stayed until 2021. | However, there’s no word on whether May would rather Carney had stayed until 2021. |
| Updated | Updated |
| at 7.10pm GMT | at 7.10pm GMT |
| 7.05pm GMT | 7.05pm GMT |
| 19:05 | 19:05 |
| Zing! | Zing! |
| Congratulations to Mark Carney for finally delivering a piece of forward guidance that the markets can understand. | Congratulations to Mark Carney for finally delivering a piece of forward guidance that the markets can understand. |
| 7.04pm GMT | 7.04pm GMT |
| 19:04 | 19:04 |
| Tyrie: Carney has a lot of explaining to do.... | Tyrie: Carney has a lot of explaining to do.... |
| Andrew Tyrie, the influential chair of parliament’s Treasury Committee, is determined to find out why Mark Carney is only going to serve a six year term. | Andrew Tyrie, the influential chair of parliament’s Treasury Committee, is determined to find out why Mark Carney is only going to serve a six year term. |
| And he’s promising to ask the governor a lot of searching questions when they next face each other.... | And he’s promising to ask the governor a lot of searching questions when they next face each other.... |
| The much needed clarification is welcome. The less uncertainty the better. Still, the Treasury Committee concluded in November 2011 that a non-renewable term of 8 years for the post of Governor was appropriate. The Government agreed, and changed the law in the Financial Services Act 2012, in line with the recommendation. | The much needed clarification is welcome. The less uncertainty the better. Still, the Treasury Committee concluded in November 2011 that a non-renewable term of 8 years for the post of Governor was appropriate. The Government agreed, and changed the law in the Financial Services Act 2012, in line with the recommendation. |
| In making this announcement, the Government and the Governor are sticking neither to the timetable set out in the exchange of letters, nor returning to the statute. More uncertainty needs to be avoided. So the decision requires a good deal of examination and explanation, which the Committee will seek when it next sees the Governor in a fortnight. | In making this announcement, the Government and the Governor are sticking neither to the timetable set out in the exchange of letters, nor returning to the statute. More uncertainty needs to be avoided. So the decision requires a good deal of examination and explanation, which the Committee will seek when it next sees the Governor in a fortnight. |
| Updated | Updated |
| at 7.05pm GMT | at 7.05pm GMT |
| 6.59pm GMT | 6.59pm GMT |
| 18:59 | 18:59 |
| The CBI’s principal economist, Alpesh Paleja, says Carney has given us a Halloween treat: | The CBI’s principal economist, Alpesh Paleja, says Carney has given us a Halloween treat: |
| Trick or treat? Mark #Carney to stay on until June 2019 (it's a treat, in case you're wondering). | Trick or treat? Mark #Carney to stay on until June 2019 (it's a treat, in case you're wondering). |
| 6.57pm GMT | 6.57pm GMT |
| 18:57 | 18:57 |
| Sorrell: Carney may be hurt by unjustified criticism | Sorrell: Carney may be hurt by unjustified criticism |
| Sir Martin Sorrell, head of advertising giant WPP, is disappointed that Carney won’t stay on until 2021. | Sir Martin Sorrell, head of advertising giant WPP, is disappointed that Carney won’t stay on until 2021. |
| Sorrell told Sky News that “one year is better than nothing... but it’s disappointing that he won’t serve its full term.” | Sorrell told Sky News that “one year is better than nothing... but it’s disappointing that he won’t serve its full term.” |
| “Maybe he was a little bit bruised by the criticism, I think unjustified criticism, that he’s been subjected to,” Sorrell said. | “Maybe he was a little bit bruised by the criticism, I think unjustified criticism, that he’s been subjected to,” Sorrell said. |
| Sorrell also warned that it will be “touch and go” as to whether the UK has finished the Brexit negotiations by June 2019. | Sorrell also warned that it will be “touch and go” as to whether the UK has finished the Brexit negotiations by June 2019. |
| Updated | Updated |
| at 7.02pm GMT | at 7.02pm GMT |
| 6.44pm GMT | 6.44pm GMT |
| 18:44 | 18:44 |
| Chris Chapman, a London-based trader at Manulife Asset Management, has told Bloomberg that the City ought to welcome Carney’s decision: | Chris Chapman, a London-based trader at Manulife Asset Management, has told Bloomberg that the City ought to welcome Carney’s decision: |
| “Carney is a respected central banker and overall I’d say that him staying with the BOE until 2019 would be seen as a positive for the country, but again, near term there are so many other factors weighing on the pound. | “Carney is a respected central banker and overall I’d say that him staying with the BOE until 2019 would be seen as a positive for the country, but again, near term there are so many other factors weighing on the pound. |
| Pound Stays Higher as Carney Says He’ll Remain at BOE Until 2019 https://t.co/PLegImIE2m via @anoojad @worrachate pic.twitter.com/4A71rZxM07 | Pound Stays Higher as Carney Says He’ll Remain at BOE Until 2019 https://t.co/PLegImIE2m via @anoojad @worrachate pic.twitter.com/4A71rZxM07 |
| 6.37pm GMT | 6.37pm GMT |
| 18:37 | 18:37 |
| Grant Lewis, head of research at Daiwa Capital Markets, tweets that Mark Carney is doing Britain a favour: | Grant Lewis, head of research at Daiwa Capital Markets, tweets that Mark Carney is doing Britain a favour: |
| Feels like Carney has been persuaded to do a favour for his Queen and someone else's country | Feels like Carney has been persuaded to do a favour for his Queen and someone else's country |
| While James Mackintosh of the Wall Street Journal says Carney’s departure is well-timed. | While James Mackintosh of the Wall Street Journal says Carney’s departure is well-timed. |
| Carney smart. He's leaving in 2019, before Brexit actually takes effect. He's cleaned up one too many crises already. | Carney smart. He's leaving in 2019, before Brexit actually takes effect. He's cleaned up one too many crises already. |