King parries claims Bank will get too much power

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Individual members of the Bank's new Financial Policy Committee (FPC) will not become too powerful because they will be held accountable for their actions by lawmakers and the public, Mervyn King, the governor of the Bank of England, said on Wednesday.

Appearing before the new UK parliament's Treasury Select Committee, King reassured the committee that the Bank of England's new FPC, chaired by the governor himself, would not give individuals too much power over the fate of the British economy, p

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