Is this your central banker of the year?

Ignis' chief economist Stuart Thomson has hailed Mervyn King as the "central banker of the year" for supporting the UK economy and protecting its safe haven status over the past 12 months.

Thomson described King, governor of the Bank of England, as "an absolute genius" for not raising rates at the beginning of last year when inflation was running high, a move widely expected at the time, and for launching further QE when the economy had weakened.

Discussing the Absolute Return Government Bond fund he runs with head of rates Russ Oxley, Thomson said: "We did well out of policymaker decisions last year and correctly called there would be QE in the UK.

"Everyone was talking about a base rate rise and we said there would not be as real incomes were declining, the consumer was weak and we thought growth would be non-existent in the UK by the end of the year. We thought the Bank of England would need to do QE and it did."

The fund managers said they continue to be "firmly behind the UK" in terms of positions on the fund as they are so confident in King.

"We think King is an absolute genius, our central banker of the year. There will be more QE this year to avoid the deflationary period that Japan suffered and support growth."

Oxley added: "The situation requires the Bank of England to be as bold as it can be and it has been. We think it will continue to do the correct thing and keep the UK in a competitive place. With the government's actions there is a chance of a rebalanced economy.

"We continue to back the UK as a one of the true safe havens out there."