Carney: I'll help restructure BoE

18 February 2013

Mark Carney has revealed he plans to play a major role in the restructuring of the Bank of England (BoE) when he takes over the governorship at the central institution later this year.

The current head of the Bank of Canada is scheduled to succeed Sir Mervyn King on 1 June after the present leader has completed the maximum number of two five-year terms in the role.

And, during an interview with CTV News in Canada yesterday (17 February), Mr Carney - who will become the first overseas governor in the BoE's 320-year history - explained that the main reason he has been recruited is to "bring a different perspective" to the institution.

Mr Carney went on to say that as an outsider, he will be able to "help with the reform, the re-founding of the BoE", while also collaborating with other officials in the UK and Europe about "policy options to really get those economies going and fix those financial systems".

By Gary Cooper

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