Bank of England names new Deputy Governor

UK - Weeks of speculation ended on Tuesday as the UK chancellor, Gordon Brown, named Sir Andrew Large, a former merchant banker and City regulator, as deputy governor of the Bank of England.

The announcement came too late for today's two-day meeting of the Monetary Policy Committee, however, as Sir Andrew has a "prior engagement" that prevents him taking his seat on the interest rate committee.

Sir Andrew, 60, has been deputy chairman of Barclays since 1998 and before that was chairman of the S