Wednesday, January 30, 2008
Another five years for Mervyn King
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Mervyn King has been reappointed Bank of England governor for a second five-year term, which was surely the only sensible option. This is the statement:

Her Majesty 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 years when his present term of office expires on 30 June 2008.

Welcoming the re-appointment the Chancellor said:

“I am delighted that Mervyn King has been appointed as the Governor of the Bank of England for a further five year term. He has played a key role in delivering macroeconomic stability in the UK, and his leadership and experience will continue to prove invaluable to the Bank of England."

Among the things King has to cope with is the weakness of the housing market. Mortgage approvals fell to 73,000 last month, down from 81,000 in November, and weaker than the 2004-5 low-point.

Comments

Another 5 years for KING.....pfffffheeew

Dear David,

Last but not least.....what a relief!
I dont normally get this worked up about people in the public arena.
I am am however very relieved that Mr King is being left to do what he has done reasonably well, considering the difficulties of late.
He is no poodle to bernanke ort o anyone else for that matter....thats for sure!
We are very fortunate to have this truly individual look after our pounds and pennies.

Best Wishes


Arik Schickendantz

Posted by: arik schickendantz at January 30, 2008 12:31 PM

Here is one fellow who has proved himself to be fit for this job.

He has the pound under pressure, the housing market under pressure and the lenders in pressure! The best bet is not to do anything until inflation risks subside and he is comfortable cutting IR.

Posted by: Hitesh Damani at January 30, 2008 02:09 PM

No point changing horses midstream, last thing we need is a new person learning the ropes. In any case I don't think he could be considered personally responsible for the financial debacle.

Posted by: JohnofScribbleSheet at January 30, 2008 02:10 PM

I think letting Mr King continue his work is a great idea and underlines the point that when their is turmoil and strife, stability and continuity is important.

He cannot be held responsible for the current situation we find ourselves in, people have forgotten that the economy isnt always great!!

Keep up the good work Mervyn!!

Posted by: shinny at January 30, 2008 06:05 PM
Post a comment









Remember personal info?








    •