The Bank of England has reappointed Mervyn King as governor for another five years from when his present term ends on June 30.
Last month reports said Gordon Brown and Alistair Darling apparently agreed changing governor in mid-stream would damage the stability of their economic policy.
King first became governor in July 2003 after holding the deputy governor role from 1998 to 2003. He was chief economist and executive director from 1991 and also worked as non-executive director of the Bank from 1990 to 1991.
His tenure so far has not been easy as the Bank has faced criticism over its handling of the Northern Rock crisis and turbulence in the financial markets.
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