Carney confirms he is willing to extend his term as Bank of England chief

Bank of England governor Mark Carney has confirmed he is in talks with the Treasury over extending his tenure as he pledged to do “whatever” he can to support the UK through Brexit.

In a hearing with the powerful Treasury Select Committee, Mr Carney told MPs he has discussed staying on past his current leave date of June 2019 with the Chancellor and expects an announcement in due course.

He said: “I fully recognise that during this critical period it’s important that everyone does everything they can to help with the transition to exiting the EU.

“Even though I have already agreed to extend my time to support a smooth Brexit, I am willing to do whatever else I can in order to promote both a smooth Brexit and effective transition at the Bank of England.”

His comments come after mounting press speculation that he is in negotiations to stay on until 2020.