Thursday, June 19, 2008
Cracks appear at BoE….
The Bank of England's deputy governor for financial stability has resigned. Sir John Gieve had come under increasing pressure as scrutiny of his role during the credit crisis and the collapse of Northern Rock intensified. Matters came to a head with the vacancy created by the retirement of the Bank's deputy governor for monetary policy, Rachel Lomax, which takes effect at the end of this month