Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Bank of England Governor Gets 2nd Term

King reappointed despite criticism over Northern Rock

By Jason Farago, Newser Staff

Posted Jan 30, 2008 9:40 AM CST

(Newser) – Mervyn King has won a second term as governor of the Bank of England, the Fed's British counterpart, ending months of speculation about his future. Reuters reports that King will serve at the head of the UK central bank for another five years despite the... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Reuters (Source Grid »)
Associated Press (Source Grid »)

Treasury committee says King dithered on credit crisis
Financial Times (UK)

The chancellor's statement reappointing King
hm-treasury.gov.uk

Money • World

United Kingdom • Gordon Brown • central bank • Bank of England • Mervyn King • Alistair Darling

More Newser Stories

UK Drops Rates to 0.5%, Begins 'Printing Money'

Quantitative easing begins with $108B of new money

(NEWSER) - The Bank of England cut interest rates today by 50 basis points to an all-time low of 0.5% and began a far more drastic process: quantitative easing, or "printing money." The Times of London reports that the Bank received permission from the government this morning to spend $106 billion of newly created money buying up government and corporate debt. The UK's central bank recently revised down already glum growth forecasts, and many economists expect no growth this year. More»

Mortgage Crisis Spreads Across the Atlantic

UK housing prices plunge; chancellor acts to shore up market

(NEWSER) - UK home prices tumbled 2.5% in February—the largest fall since the 1990s—as the International Monetary Fund warned that Britain could face a housing crisis similar to the US. British PM Gordon Brown insisted yesterday the decline was containable, but the Bank of England is now under serious pressure to cut interest rates at its meeting tomorrow, the Times of London reports. More»

Brown Likely to Hang On to Power

In reshuffle, British PM invites Apprentice host to join government

(NEWSER) - Gordon Brown looked set to hang on to power this morning, despite the shock resignation of yet another minister who called on him to step down. James Purnell, a young Blairite, quit the Cabinet seconds after polls closed in last night's election, forcing Brown to bring forward a planned government reshuffle. Among the new faces: Alan Sugar, the host of Britain's version of The Apprentice, who will be made a lord and serve as an enterprise czar. More»

UK Expenses Scandal Hits Alistair Darling

Govt's No. 2 claimed 2 houses at same time, may be demoted

(NEWSER) - Britain's ongoing political expenses scandal reached all the way to the second-highest post in government today, after the Telegraph broke news that Chancellor Alistair Darling reportedly expensed the service charge on a South London apartment he was renting out while also claiming allowances on his Downing Street house. Though he denies the allegation, Darling this morning agreed to pay back about $1,500; speculation is growing that he will be demoted in a government reshuffle as soon as Friday. More»

UK Slashes Interest Rates to All-Time Low of 1.5%

50-point cut less than business groups had hoped for

(NEWSER) - The venerable Bank of England cut interest rates today by 50 basis points, trimming them to 1.5%—their lowest since the bank's founding in the 17th century. Investors had expected the move, although business organizations had pressed for a 100-point cut. Yesterday, Britain's finance minister admitted that the recession was "far from through"—and that earlier predictions of a 1.25% GDP contraction this year were too optimistic. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Bank of England Governor Gets 2nd Term

King reappointed despite criticism over Northern Rock

United Kingdom • Gordon Brown • central bank • Bank of England • Mervyn King • Alistair Darling

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

UK Drops Rates to 0.5%, Begins 'Printing Money'

Quantitative easing begins with $108B of new money

Mortgage Crisis Spreads Across the Atlantic

UK housing prices plunge; chancellor acts to shore up market

Brown Likely to Hang On to Power

In reshuffle, British PM invites Apprentice host to join government

UK Expenses Scandal Hits Alistair Darling

Govt's No. 2 claimed 2 houses at same time, may be demoted

UK Slashes Interest Rates to All-Time Low of 1.5%

50-point cut less than business groups had hoped for

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?