Did Mark Carney ever deny wanting a job in England?

Nick Taylor-Vaisey reviews the video evidence. (Nice move, governor)

by Nick Taylor-Vaisey

CP/Fred Chartrand

Mark Carney’s decision to take up the governorship of the Bank of England came as a huge surprise to most people. But should it have been so shocking?

The soon-to-be-former governor of the Bank of Canada has consistently left the door open to the gig in England, but only the benefit of retrospect makes it clear. Now, the video evidence.

 

Here’s Carney talking to the CBC’s Evan Solomon on Power and Politics. Towards the end of the interview, when Solomon asked about a potential bid for the federal Liberal leadership, Carney sounded somewhat blunt.

“I have no intention of seeking political office. I’m governor of the Bank of Canada. I have responsibilities. I’m going to be a central banker for some time, god willing. And there’s a lot to do,” he said. Okay, so he’ll be a central banker for some time, sure. Maybe not in Canada. Nice move, governor.

Here’s Carney this past August, after the Bank of England’s Governor, Mervyn King, announced he was stepping down in June 2013. The BBC’s Zeinab Badawi asked Carney if he wanted the job. Here’s the key part of his answer, which comes at about the 20-minute mark:

Carney: “It’s an extremely important post. I’m very focused on my post at the Bank of Canada and the Financial Stability Board. And I look forward to working with the new, or next, governor of the Bank of England. But until the end of June of next year, I’ll very much enjoy working with [inaudible].”

Badawi: So is that a ‘no’ or a ‘never’?

Carney: It’s both.

Importantly, he didn’t say he never wanted the job—only that he didn’t want it before the end of next June, which is exactly what’s played out. He’ll start his job at the Bank of England on July 1, 2013.

In an interview with CTV’s Lisa Laflamme, also last August, Carney said he hadn’t been approached to run the Bank of England and was “focused on [his] role” at the Bank of Canada and the Financial Stability Board. No real denials there.

Carney played his cards close to his chest and, apparently, got one past the press until almost the moment before he announced his new job. Bravo.

Related links:

Bank of Canada Governor Mark Carney picked to lead British central bank

When two Canadian political powerhouses left their jobs

Mark Carney: the Canadian hired to save the world.




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Did Mark Carney ever deny wanting a job in England?

  1. I think BofC has been less than fully truthful but I don’t have a problem with Carney denying things about BofE until he was appointed.

    FinPost: Apr 2012

    The Bank of Canada is denying a report that governor Mark Carney has been tapped as a possible candidate to head up the United Kingdom’s central bank beginning next June.

    According to the Financial Times, a representative of the Bank of England “informally approached” Mr. Carney to replace the bank’s current governor Sir Mervyn King, whose term ends next year.

    A spokesman for the Bank of Canada said Mr. Carney was not approached as a candidate.

  2. I’m happy conservative cdn financial actors are diaspora. England doesn’t have as much an idiot Prairie base though. UK believe poor people can contribute. UK has an overrepresented finance industry (corporate tax cuts lead to dumb bets or pointless dividend increases) but not a future holocaust-unleashing carbon heavy energy sector. We reward rich people for causing failed states and future resource wars and stuff…but I guess UK is 2x as big. I like that the BoC can in theory enact stimulus jobs creation Crowns. Even if the CPC was in majority during the Dion election, there is a chance Carney might’ve unleashed some stimulus spending. In retrospect maybe not necessary.

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