Brown urged to keep King

Financial Times
Brown urged to keep King

The majority of bankers and economists support the reappointment of Mervyn King for a second term as Bank of England Governor, a Financial Times snapshot of opinion suggests today. The emerging consensus is that although he made mistakes, the errors were not sufficiently serious for the Government to - in effect - sack Mr King. The straw poll came as Gordon Brown’s official spokesman yesterday delivered a vote of confidence in Mervyn King, whom he described as “a first-rate Governor of the Bank of England”. One former member of the Monetary Policy Committee bucked the general trend by arguing Mr King had lost the confidence of the City to the point where the Governor “should read the tea leaves and announce he doesn’t want a reappointment”. But another said: “I don’t see why he should be sacrificed. Most of the antis tend to have a vested interest.”
[Financial Times page 2 - 08.11.07. Also reported in The Independent page 11, The Times page 49 and Daily Mail page 81.]

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