(Redirected from Mervyn Allister King)'Mervyn Allister King' (born
March 30 1948) is
Governor of the
Bank of England. He succeeded Sir
Edward George
on
June 30 2003.
King studied at
Wolverhampton Grammar School,
King's College, Cambridge,
St John's College, Cambridge, and
Harvard; he then taught at the
University of Cambridge and the
University of Birmingham. He has also been Visiting Professor to Harvard and the
Massachusetts Institute of Technology. From October
1984 he was Professor of Economics at the
London School of Economics.
King joined the Bank in March
1991 as Chief Economist and Executive Director, having been a
non-executive director from
1990 to
1991. He was appointed Deputy Governor in
1997, taking up his post
June 1 1998.
An
ex-officio member of the Bank's interest-rate setting
Monetary Policy Committee since its inception in 1997, he is the only person to have taken part in every one of its monthly meetings to date. His voting style is often seen as "hawkish." Before becoming Governor, he regularly voted for tighter monetary policy than his colleagues. That pattern has continued in a more muted way as Governor: most notably, he was outvoted opposing the MPC's August 2005 interest rate cut, and in June 2007 was in the minority by voting for higher rates. King's willingness on occasion to take a minority position is unusual among central bank leaders.
King is noted for his often-repeated ambition to make monetary policy "boring," by which he means that it should be as predictable as possible by continually focusing on achieving a set inflation target. The term "inflation nutter" was also coined in a paper by King.
King is a fan of
Aston Villa F.C., and arranged a game between Bank of England employees and ex-Villa players
[1]. He also briefly found himself commentating on an
Ashes test match for
BBC radio
Five Live in 2005, whilst being interviewed by
Simon Mayo.
Cambridge University awarded him an
honorary Doctorate in Law in 2006.
King is married to
Finnish businesswoman Barbara Melander. The couple married on
May 26,
2007 in
Helsinki.
[1]
References
1. Daily Mail: The blonde Finn who melted the heart of Bank of England boss