Carney said he initially turned down the job but British officials kept after him. He said he changed his mind because his term as governor of the Bank of Canada was ending soon, the London job was a big opportunity and the fate of the British economy was critical.
"It's very important for the global economy that the U.K. does well, that it succeeds in this rebalancing of their economy, that the reform of the British financial system is completed, " he said.
Carney said he would take the job for five years instead of the usual eight, and many Canadians are speculating that Carney may return to Canada to run for prime minister. The opposition Liberal Party of Canada had eagerly courted him, but Carney said this month he would remain a central banker for some time.
Associated Press writer Sylvia Hui contributed from London.
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