Bank of England governor King wins reappointment

0 Comments | AFP, January, 2008

LONDON (AFP) — Bank of England chief Mervyn King has been reappointed for another five years, the government announced Wednesday, ending speculation over his future due to the Northern Rock bank crisis.

King, 60, has been under the spotlight in recent months as he and the government sought to stabilise financial markets and restore consumer confidence in the banking sector after the near-collapse of Northern Rock.

Prime Minister Gordon Brown's spokesman Michael Ellam told reporters on a conference call on Wednesday that the central bank boss's appointment had been approved by Queen Elizabeth II.

"The Queen has been pleased to approve, under the Bank of England Act 1998, that Mervyn King be re-appointed governor of the Bank of England for a period of five...