Bank of England Gov. Mark Carney said Monday he will remain in his post until June 2019 but won’t serve a full eight-year term. In a letter to Chancellor of the Exchequer Philip Hammond, Carney said he would be “honored” to extend his term of service beyond the five years he had initially intended to serve. The move should see Carney remain in office through the transition period that will see the U.K. leave the European Union, which “should help contribute to the securing of an orderly transition to the U.K.’s new relationship with Europe,” he wrote. The British pound extended a gain after the announcement and was up 0.3% at $1.2231 in recent trade.
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