Pound Stays Higher as Carney Says He’ll Remain at BOE Until 2019
- Sterling is still 2016’s worst performing major currency
- Carney takes middle ground between leaving in 2018, 2021
Mark Carney Staying at BOE Until 2019
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The pound stayed higher as Bank of England Governor Mark Carney announced that he will remain in the role until 2019.
Sterling rose against all of its Group-of-10 peers as Carney announced the decision in a letter to Chancellor of the Exchequer Philip Hammond, saying extending his stay at the central bank will assist an “orderly transition to the U.K.’s new relationship with Europe.” Still the pound only climbed to the highest level since Oct. 27, and remains 2016’s worst-performing major currency.