Mark J. Carney

From MarketsWiki
Jump to: navigation, search
RJO-logo.gif


Mark J. Carney
Mark Carney.jpg
Occupation Governor
Employer Bank of England

Mark J. Carney is the 120th and current governor of the Bank of England. He is also chairman of the Monetary Policy Committee, Financial Policy Committee and the board of the Prudential Regulation Authority. His appointment as governor was approved by Her Majesty the Queen of England on November 26, 2012, and he joined the bank on July 1, 2013. He also serves as chairman of the G-20's Financial Stability Board, and as a board member of the Bank for International Settlements (BIS).

He was previously the eighth governor of the Bank of Canada.[1] [2]

On Sept. 11, 2018, the Bank of England announced that Carney's term as governor would be extended until 2020.[3]

The Bank of Canada and the UK have similar monetary policy regimes. The Bank of Canada targets the midpoint of a one percent to three percent inflation range and undertakes similar quarterly forecasting exercises.[4]

Background

Carney began his career in 1988 as an analyst in the London office of Goldman Sachs. Over the next 13 years, he held a variety of positions at the investment bank including co-head of sovereign risk, executive director of debt capital markets, VP of corporate finance, and managing director.[5]

In August 2003, Carney was appointed Deputy Governor of the Bank of Canada in August 2003. In November 2004, he was appointed Senior Associate Deputy Minister of Finance, and held that position until February 2008, when he became Governor of the Bank of Canada.[6]

Education

Carney received a bachelor’s degree in Economics from Harvard University in 1988. He received a master’s degree in Economics in 1993 and a doctorate in Economics in 1995, both from Oxford University.[7]

References

  1. Mark Carney Named New BOE Governor. WSJ.com.
  2. Press Release. Bank of England.
  3. Mark Carney’s term extended and Sir Jon Cunliffe re-appointed at the Bank of England. Bank of England.
  4. Mark Carney appointed as Bank of England governor: reaction. The Guardian.
  5. Mark J. Carney. Businessweek.
  6. Mark Carney. Bank of Canada.
  7. About Mark Carney. Bank of Canada.