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BoE governor King awarded a knighthood

Bank of England governor Mervyn King has been awarded a knighthood in the Queen’s birthday honours list.

He has been governor of the Bank of England since 2003 and was deputy governor from 1998 to 2003 and chief economist and executive director from 1991.

King, who is chairman of the bank’s monetary policy committee, was attacked by Labour in the run-up to last year’s general election for appearing to support the Conservatives’ economic proposals.

The forthcoming restructure of financial services regulation, which will see responsibility for prudential regula- tion switch from the FSA to the bank, will give King significant new powers. Many argue that the BoE governor will hold too much power under the new structure.

Baronworth Investment Services director Colin Jackson says: “I think Mervyn King deserves a knighthood purely for keeping the base rate low for so long and helping borrowers.

“You do not hear much criticism about him and he seems to be keeping the financial community happy. It is good to see the financial services sector getting a mention and a good mention at that.”

The honours list, which was published on Saturday, also saw Standard Chartered Bank chairman John Peace awarded a knighthood.

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