According to Daily Mail, Mark Carney’s term as Bank of England Governor was extended to January 2020 today as the Chancellor confirmed plans to keep him in place.

The seven month extension is designed to help smooth Britain’s exit from the EU and is likely to ease worries in the markets.

Mr Carney is bitterly opposed by Brexiteers who believe the Governor has been a leading member of the ‘Project Fear campaign.

Chancellor Philip Hammond has also re-appointed deputy governor Sir Jon Cunliffe, ensuring he stays at the bank until 2023..

Mr Hammond said: ‘I’m delighted that the Governor has agreed to stay in his role for a further seven months to support a smooth exit from the European Union and provide vital stability for our economy.’