(Bloomberg) --
The process to appoint the next Bank of England governor is “on track,” according to Chancellor of the Exchequer Sajid Javid.
“We will make an announcement in due course, ahead of the start of the next Governor's term on 1 February 2020,” Javid wrote in a Sept. 27 letter to Parliament's Treasury Committee, which oversees both the Treasury and central bank. “I would like to assure you that the Committee will have the opportunity and time to scrutinize the successful candidate.”
Lawmakers had asked Javid for an update on the process amid speculation current governor, Mark Carney, may be asked to extend his term for a third time if the U.K.'s exit from the European Union is delayed. Javid's predecessor, Philip Hammond, previously said the appointment would be made in the fall.
Carney, who is due to step down at the end of January, has twice extended his tenure to provide continuity during the split from the EU. Bloomberg reported in August that the Treasury was considering delaying naming a successor until after Britain's planned Oct. 31 departure from the EU.
To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net
To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, David Goodman, Andrew Atkinson
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