By Jason Douglas

LONDON -- Bank of England Gov. Mark Carney is to serve an extra year as head of the U.K. central bank to see the U.K. beyond its exit from the European Union, the BOE said Monday.

Mr. Carney said in a letter to Treasury chief Philip Hammond that he would be "honored" to serve as governor until June 2019.

"By taking my term in office beyond the expected period of the Article 50 process, this should help contribute to securing an orderly transition to the U.K.'s new relationship with Europe," he said, referring to the mechanism that triggers the U.K.'s formal EU exit.

Prime Minister Theresa May on Monday affirmed her support for himto remain at the job for a full-term, in a rebuke to the hard-liners who want him out sooner.

Write to Jason Douglas at jason.douglas@wsj.com

(END) Dow Jones Newswires

October 31, 2016 14:26 ET (18:26 GMT)

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