Charlie Bean, the deputy governor of the Bank of England (BoE), said the Bank has sent a "clear signal" it will not increase interest rates anytime soon as he expressed surprise at investors' reaction to its position.
Sir Mervyn King was handed roughly £13,000 of leaving presents, including a £10,000 portrait of himself, when he left the Bank of England in June.
Sterling rose against other major currencies this morning after the minutes from Monetary Policy Committee (MPC) meeting showed most members backed Mark Carney's forward guidance policy on interest rates.
Fixed income managers have cautioned the Bank of England (BoE) will be forced to backtrack on its forward guidance measures as it has been too pessimistic over the state of the UK economy.
Bank of England Governor Mark Carney is an advocate of the virtues of communication, but he may have already backed himself into a corner in his attempt to set out a clear policy path.
The FTSE 100 closed 1.4% down on Wednesday after new Bank of England Governor Mark Carney gave the market forward guidance, but sterling recovered after an initial drop.