Mervyn King

Pound slumps after bank reveals split on stimulus

The pound has plummeted on international exchanges after a surprise split emerged on the Bank of England’s Monetary Policy Committee (MPC) about whether more stimulus should be injected into the struggling British economy.

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Bank Governor faces calls for resignation

Mervyn King, the Governor of the Bank of England, faced a call for his resignation yesterday amid fresh claims that he has overstepped the mark by becoming embroiled in politics.

David Prosser: The Governor and the the Bank of England's political

Outlook In handing the Bank of England its independence in 1997, the then Labour Government effectively made a deal. It gave up its right to control the levers of monetary policy; the corollary of that surrender was that the Bank would leave fiscal policy to the elected government of the day.