Sir Mervyn King says new financial stability tools are 'an experiment'

The man hand-picked by George Osborne to run the Bank of England has fuelled speculation that he will order a policy revolution to jump-start the stalled British economy as fears grow of a triple-dip recession, reports The Guardian.

Last week we introduced our readers to the BIS' Head of Foreign Exchange and Gold, Benoit Gilson.

By Richard Alford, a former New York Fed economist. Since then, he has worked in the financial industry as a trading floor economist and strategist on both the sell side and the buy side. While there are numerous definitions of economics, the most widely used is: Economics is the study of how economic agents – households, businesses, governments – allocate limited resources across competing uses.

Bank of England Governor Sir Mervyn King, and Andrew Bailey, who will head the new banking regulator, appeared before the Banking Standards Commission.