Sir Mervyn: Carney 'is an outstanding choice to succeed me'

The outgoing Bank of England Governor Sir Mervyn King has welcomed the appointment of Mark Carney:

I am delighted to welcome Mark Carney as my successor.

He represents a new generation of leadership for the Bank of England, and is an outstanding choice to succeed me.

Since Mark became Governor of the Bank of Canada, I have worked closely with him and admired his contributions to the world of central banking, in which he is widely respected.

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New Bank of England Governor

The incoming Governor of the Bank of England Mark Carney is setting out how he will act in his new role during a speech as the current Bank of Canada Governor.