• Says 5-year term enough to see through UK reforms
  • Says he didn’t formally apply for job
  • Discussions intensified in the past two weeks
  • Says he’s certain Bank of Canada to meet goals

For the UK readers who don’t know him, Carney lived in London for a number of years when he worked for Goldman Sachs. His wife is from the UK.

He’s from the Fort Smith in the Northwest Territories, which is in the Arctic (where the average daily temperature is below freezing), so he should be able to handle the UK weather.

Dramatic day in central banking. I’m most impressed that it was kept quiet in both continents.