Mervyn King

As governor Mervyn King approaches the end of his tenure, speculation is mounting over who will take the hot seat at the Bank of England when he steps down.

The Queen's Diamond Jubilee celebrations will cause the economy to contract between April and June, the Bank of England's Mervyn King has warned.

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.

Société Générale global strategist Albert Edwards has said Bank of England governor Mervyn King and former Federal Reserve chairman Alan Greenspan should be stripped of their knighthoods in light of the same fate befalling Fred Goodwin.

Bank of England governor Mervyn King last night backed calls for limits on boardroom pay, in a speech in which he also said the UK's economic recovery would be "arduous" and hinted at a further round of quantitative easing.

The Bank of England is readying emergency funds designed to protect the UK economy from "unexpected shocks".

Barclays has offered to buy back £2.5bn worth of debt to boost its capital levels.

Bank of England governor Mervyn King said badly managed banks should be left to fold, as he demanded sweeping powers to force financial institutions to be more transparent.

Bank of England governor Mervyn King appeared before the Treasury Select Committee this morning to answer questions on his inflation forecasts and quantitative easing programme.

Bank of England governor Mervyn King has been asked by the Treasury Select Committee to explain his decision to inject a further £75m into the UK economy through quantitative easing (QE).