Yahoo Finance Mark Carney is now officially a British citizen
The leader of the UK central bank is now officially a British citizen.
Mark Carney, the governor of the Bank of England (BoE), took part in a ceremony to get his British citizenship on Wednesday, according to the central bank.
The Harvard-educated Canadian – who is famous in financial circles – took over the top job at the BoE in mid-2013 and has been living in the country with his family since then. He previously headed Canada’s central bank.
He is widely considered to be a steady hand that has guided Britain’s financial system through a tumultuous period after the EU referendum in 2016.
Carney said in a written statement that he was “honoured to have become a British citizen.”
“The moving ceremony reminded me how privileged I am to work with outstanding colleagues from 80 nationalities at the Bank of England as we promote the good of the people of the United Kingdom during this important time for our country,” he said.
Carney has faced some criticism for his Canadian roots, with some Brits uncomfortable that a foreigner leads the central bank, which sets interest rates for the nation. Some believe he has been overly negative about Brexit, as he has warned that the UK’s planned break with the European Union in March 2019 could do severe damage to the economy.
On Tuesday, he issued a stark warning that his central bank would not be able to rescue the UK from the huge economic shock of a Brexit with no deal and no transition period.
“This is not the financial crisis … round two, where the Bank of England and other central banks were centre stage,” he told the UK’s Treasury Select Committee. “This [could be] a real economy shock and, therefore, central banks have a role, but we’re more of a sideshow.”
Carney recently agreed to extend his term as governor until January 2020 to provide stability in the midst of Brexit. He had previously been scheduled to leave his post about two months after Brexit, which gave investors deep concerns about the country’s financial stability and economic prospects.
