- Title: UK's Hammond says welcomes Carney to extend time at BoE, talks quantitative easing
- Date: 6th October 2016
- Summary: NEW YORK, NEW YORK, UNITED STATES (OCTOBER 6, 2016) (UNRESTRICTED POOL) HAMMOND TALKING TO PRESENTER (SOUNDBITE) (English) CHANCELLOR OF THE EXCHEQUER OF THE UNITED KINGDOM, PHILIP HAMMOND, SAYING: "Obviously, Mark Carney said when he took the job on that he wasn't guaranteeing to stay for the whole eight years. He will make his decision in due course and that's his decision - he made that very clear. But I certainly would welcome his decision to stay if that is the decision he makes." HAMMOND TALKING TO PRESENTER
- Embargoed: 21st October 2016 19:27
- Keywords: Brexit Carney BOE easing money currency
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Currencies/Foreign Exchange Markets,Economic Events
- Reuters ID: LVA00252VD1N1
- Aspect Ratio: 16:9
- Story Text: Any future decision on whether the British government should approve another round of quantitative easing to spur the economy will be taken "carefully and cautiously," finance minister Philip Hammond said on Thursday (October 6).
"I approved a round of quantitative easing back at the beginning of August as a response to the shock that the economy had felt, but we are conscious of the impacts that QE has and we will use it carefully and cautiously," Hammond, who is currently in New York, said in a television interview with CNBC.
On Wednesday, British Prime Minister Theresa May said low interest rates and quantitative easing have bad side-effects.
Philip Hammond also said he would like Bank of England Governor Mark Carney to serve a full eight-year term at the central bank, rather than leave in 2018 as he originally agreed.
"He will make his decision in due course and that's his decision - he made that very clear. But I certainly would welcome his decision to stay if that is the decision he makes," Hammond told Bloomberg Television in an interview.
Carney has said he intends to say before the end of this year whether he will stick to his original plan to step down as BoE governor in less than two years' time, or extend his stay until 2021.
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