Mervyn King will today become only the second Bank of England governor to address the TUC when he speaks at the union's conference in Manchester.
Unionists, who will vote on joint industrial action against public sector redundancies on Monday, have blamed King for helping to bring in cuts.
King says the BoE's role is now "to protect the public from the banks," the BBC reports.
He adds: "The role of the Bank of England changed with independence. It was an apologist for the City. I now see it serving the nation as a whole."
RMT leader Bob Crow says he will not listen to King at the congress. He told BBC Radio 5 live: "I'm all in favour of listening to Mervyn King after we have finished, but I believe [the conference] is to decide our own policy, our own platform and this is our opportunity to listen to workers.
"I want to hear what workers are going to say about how they are going to resist these cutbacks that are going to take place from the government's austerity measures."
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