British PM Theresa May welcomes Mark Carney decision to extend Bank of England term

British Prime Minister Theresa May welcomes Bank of England Governor Mark Carney's decision to extend his term at the central bank by one year, her spokeswoman said on Monday.

Earlier, Carney said he had decided to stay in charge of the central bank for an extra year until the end of June 2019 to help smooth Britain's departure from the European Union.

"The prime minister welcomes the governor's decision to stay on beyond his initial five-year term," the spokeswoman said.

"This is good news for the UK. It will provide continuity and stability at the Bank of England as we negotiate our exit from the European Union and look to take advantage of the opportunities that Brexit will present," she said.