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Mark Carney to 'defy critics and stay on' at Bank of England

Mark Carney will make an announcement on his position soon. Credit: PA

Bank of England Governor Mark Carney will serve his full eight year term, defying Brexit campaigners who are demanding his resignation, it has been reported.

Mr Carney has told friends that he is likely to announce information about his future this week, according to the Financial Times.

The governor - who was expected to speak to the Prime Minister and Chancellor before making a final decision - was said to be "leaning strongly" towards remaining in his post.

The report comes amid mounting speculation that he was preparing to stand down from his post after Brexit supporters criticised his conduct during the EU referendum campaign.

They complained he went too far in warning of the economic dangers of leaving the EU in order to boost the Remain campaign.

The economy's relatively good performance since the country voted to leave has encouraged prominent conservatives like Jacob Rees-Mogg and former chancellor Lord Lawson to demand he resigns.

But Business Secretary Greg Clark praised Mr Carney's performance since becoming governor.

"Mark Carney has done a tremendous job, a fantastic job during his tenure there. It's clearly a decision for him," he told BBC1's The Andrew Marr Show.

"I was the Financial Secretary to the Treasury when he was appointed and I think it was a brilliant appointment."