BoE boss welcomes Bernanke news

LONDON: Bank of England Governor Mervyn King on Tuesday welcomed news that Ben Bernanke has been renominated as chairman of the US Federal Reserve.

"I am delighted to learn of Ben Bernanke's renomination as Chairman of the Federal Reserve," King said in a brief statement.

"Since he became Chairman, we have worked closely together, in conjunction with other central banks, and I look forward to continuing that relationship."

US President Barack Obama on Tuesday awarded Bernanke a second term, charging him with steering the US economy out of the worst slump since the 1930s.

Bernanke and King once worked together at the Massachusetts Institute of Technology (MIT) in the 1980s.

"Ben brings strong leadership to the Federal Reserve at this vital time," King added.

"It is a long time since we had adjoining offices at MIT. But that experience has stood us in good stead in dealing with the crisis over the past two years."