Bank of England Governor Mark Carney could be asked to stay in his role beyond January 2020 if the U.K. is unable to leave the EU as scheduled by the end of next month, the Financial Times reported, citing people briefed on the matter.
Carney had initially intended to serve a five-year term beginning July 2013, but he extended his tenure twice to guide the central bank through Brexit negotiations. He is currently due to step down Jan. 31, 2020.
But U.K. ministers appear unlikely to name Carney's successor by an autumn deadline amid the prospect of an election in November or December, the report said. Prime Minister Boris Johnson unsuccessfully tried to call for a snap election in October, as the opposition Labour Party's leader Jeremy Corbyn insists that he will only back a new poll once the risk of a no-deal Brexit on Oct. 31 is eliminated.
A recently enacted law requires Johnson to ask the EU by Oct. 19 to extend the Brexit date to Jan. 31, 2020, unless Parliament approves a divorce deal with Brussels or agrees to a no-deal departure.
A shortlist of candidates that was sent to the U.K. Treasury reportedly includes Santander UK PLC Chairman Shriti Vadera, Financial Conduct Authority CEO Andrew Bailey, London School of Economics Director Minouche Shafik, and BoE Deputy Governors Ben Broadbent and Jon Cunliffe.
