In a letter to the governor, Philip Hammond said that the extension would "support a smooth exit of the United Kingdom from the European Union and an effective transition to the next governor", bringing the curtain down on a chaotic few weeks of guesswork and speculation.
Carney focused heavily on minimising financial market turmoil in the run-up to June 2016's European Union referendum and has warned since of the costs of a disorderly Brexit, drawing fire from Brexit supporters.
A senior government figure said: "The PM thinks he has done a good job in hard circumstances; he is well respected and has a good global standing".
Though the extension is shorter than expected - most were predicting Carney would carry on for another year - the decision does help reduce one of the immediate uncertainties surrounding Brexit.
"I recognize that during this critical period, it is important that everyone does everything they can to support a smooth and successful Brexit", Mr.
"Accordingly, I am willing to do whatever I can in order to promote both a successful Brexit and an effective transition at the Bank of England and I can confirm that I would be honoured to extend my term to January 2020". "I certainly can't make announcements on behalf of the government but I'll do whatever I can to support this process".
Hammond also confirmed that Carney, who said last week he was prepared to stay in his job beyond next June when his term was due to end, had agreed to remain until 2020. Following Britain's Brexit vote, he agreed to remain in place an additional year to the end of June.
The extension isn't the first of Carney's tenure at Threadneedle Street.
"As BoE governor, Carney has not always been universally popular, but appointing him as temporary caretaker through this period of transition does make sense".
"He will install a measure of certainty on monetary policy, which provides some air cover through what will surely be an unpredictable spell".
Hurricane Florence Rocks Wooden Pier in Nags Head
In Myrtle Beach, ABC correspondent Pete Combs painted a starker picture of those who made a decision to stay in place. But, knowing the intensity of Florence's impact on Myrtle Beach, "My friends are worrying me right now", Combs said.
The Senators trade Erik Karlsson to the Sharks
Balcers spent last season in the AHL and Norris was a first-round pick in 2017 and entering his sophomore season at MI . DeMelo played mostly on San Jose's third defensive pair last season when he had no goals and 20 assists in 63 games.
Apple sticks to higher prices for iPhones in Europe
In the United Kingdom , the iPhone Xs and Xs Max will start at £999 and £1,099 respectively, with the iPhone XR coming in at £749. For users on Apple's upgrade plan, the tricked-out iPhone XS Max will run them a cool $68.66 a month on a 24-month payment plan.
Carolina Braces for Florence Storm Surge
People in the Carolinas had the daytime hours Thursday to complete their final preparations to ride out or escape the storm. People on barrier islands or peninsulas were running out of time Wednesday to retreat by bridge or ferry.
2018 iPhone prices may be more than what you think
While the low-end model could be a great entry point for price-conscious users, the iPhone XS is sure to be the star of the show. The larger of the pair will be called the iPhone Xs Max, it claims , with the smaller simply called the iPhone Xs .
Hugo Lloris to keep captaincy confirms Mauricio Pochettino
He said a taxi which had booked cancelled so Lloris made "the first of a number of unwise decisions" and chose to drive home. Lloris was recently handed a 20-month driving ban and fined £50,000 after pleading guilty to drink driving.