Carney agrees to extend stay at BoE until January 2020

Mark Carney has accepted H.M. Treasury's offer for him to remain at the helm of the Bank of England until January 2020, thus extending his stay for another six months.

In a letter published by Bank, Carney said: "I recognise that during this critical period, it is important that everyone does everything they can to support a smooth and successful Brexit.

"Accordingly, I am willing to do whatever I can in order to promote both a successful Brexit and an effective transition at the Bank of England and I can confirm that I would be honoured to extend my term to January 2020."

Carney was originally chosen for an eight-year term, starting from July 2013, but his original intention had been to step down from the post after five years, due to personal reasons, but in the wake of Brexit he extended his stay for another year, until mid-2019.

Now, the Treasury has tapped him again, in a possible bid to ensure continuity and that the process of selecting his successor is not rushed during a potentially stressful period for the country.

The announcement initially drew a muted response from foreign currency and Gilt markets.