Page last updated at 22:17 GMT, Wednesday, 17 June 2009 23:17 UK

Governor wants more bank powers

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The Governor of the Bank of England, Mervyn King, has called for the bank to be given greater powers to fulfil its new responsibility to promote financial stability.

In a speech in the City of London, Mr King said the bank could not continue to act "like a church" whose congregation "ignores its sermons.''

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