King Likely to Win New Term Leading Bank of England

(Bloomberg) -- Prime Minister Gordon Brown was speechless when asked yesterday whether he would reappoint Mervyn King as governor of the Bank of England, silently nodding toward Chancellor of the Exchequer Alistair Darling to repeat the promise of a decision in ``the next few weeks.''

When the time does come, Brown will probably say yes.

Brown has little choice but to overlook King's delay in acting on the financial crisis at Northern Rock Plc last year, say former colleagues, economists and lawmakers from the three main parties. They say the political costs of pushing King aside would outweigh any benefit.

 

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