Mervyn King appeared to be heading for a second term as Governor of the Bank of England last night after ministers turned a blind eye to recent criticism of their handling of the credit crisis attributed to Bank officials, reports The Times .
Well-informed sources in No. 10 and the Treasury told The Times last night that it was a “reasonable assumption” that within the next few weeks Mr King would be reappointed for another five years from next June. Gordon Brown and Alistair Darling, the Chancellor, have apparently agreed that a move to change Governor in mid-stream would damage the stability that they claim is at the heart of their economic policy. MERVYN KING HAS LAUNCHED a major broadside at the banking sector, labelling it "dangerous" and urging politicians to impose fresh regulations on the City's financiers, The Teleg...
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