Sir Mervyn King saved the best to last. We had sailed through the minor issues such as the crisis of world capitalism, the indefinite wait for a “sustainable” recovery, and the shady lobbying by government of regulators on behalf of the banks, when he produced his coup de grâce: Jane Austen’s head could soon be on the tenner.

George Osborne was challenged over whether he gave in to intense lobbying by bankers to force regulators to water down demands for banks to raise more capital to protect themselves against future shocks.

Sir Mervyn King’s last appearance at the annual bash in the Mansion House, known officially as the Lord Mayor’s banquet for the merchants and bankers of the City of London on Wednesday evening, was neither as warm nor as emotional as I expected – clearly the Governor’s persistent and well-directed criticism of banks has somewhat soured the relationship.

Sir Mervyn King, the outgoing Governor of the Bank of England, is to be made a life peer in recognition of his significant contribution to public service. He was personally nominated by the Prime Minister.

Mr Tucker said he planned to spend time in academia in the US

Bank of England governor Sir Mervyn King said he was leaving the institution “in safe hands” as he signed off his final annual report before being succeeded by Canadian Mark Carney.

Britain’s manufacturing malaise might finally be coming to an end after the strongest growth for more than a year in May, the Chartered Institute of Purchasing & Supply said today.

Sir Mervyn King will bring down the curtain on 16 years of rate-setting this week as he chairs his final meeting of the Bank of England's monetary policy committee (MPC).

The outgoing governor of the Bank of England has warned that George Osborne's plan to boost the housing market is "too close for comfort" to a general state guarantee for mortgages.

Easing pain for motorists at the petrol pump and Chancellor George Osborne's Budget beer duty largesse should this week herald the first fall in inflation since last September.

The Governor has delivered his final Inflation Report. But how has Sir Mervyn King's analytical innovation performed?

Chancellor hails improved forecasts as King presents final Inflation Report before stepping down

The Chancellor also pledged UK action on tax evasion and avoidance