Bank of England Governor Carney to stay until June 2019

LONDON (AP) — Bank of England Governor Mark Carney says he will extend his term in office by one year and stay in the position through June 2019.

Carney’s announcement of his decision Monday may help settle speculation about his future.

He has played a key role in trying to manage the British economy and stave off a possible recession as the country prepares to leave the European Union.

The British government had earlier in the day offered strong support for Carney amid speculation about his future at the bank.

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Theresa May’s spokeswoman said Monday that Carney has the prime minister’s backing.

Many of those who campaigned for Britain to leave the European Union have taken issue with Carney because of his stark pre-vote warnings about the potential negative economic impact of Brexit.