Luc Coene will serve an additional year as National Bank of Belgium (NBB) governor, before handing the reins over to one of the central bank's directors, Jan Smets.
Coene was initially appointed on a five-year term in February 2011, but was expected to leave the central bank when he hit retirement age, 67, earlier this week.
The Belgian Council of Ministers agreed a one-year extension with Coene, however, extending his term until March 2015. At which point, the council ruled, he will be succeede
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