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Wikileaks reports compromise BoE governor

Latest developments at Wikileaks could be causing embarrassment to Bank of England governor, Mervyn King.

Yesterday, Wikileaks said it had begun publishing 251,287 US embassy cables, claiming that it was the largest set of confidential documents ever to be leaked into the public domain.

The cables, which apparently date from 1966 to the end of February this year, are said to contain confidential communications between 274 embassies in countries throughout the world.

Reports have emerged that amid the mass of information are comments from Mr King, regarding a “lack of depth” in Prime Minister David Cameron and Chancellor of the Exchequer George Osborne.

The Wikileaks reports come only days after the Governor was under attack for political bias.

According to Monetary Policy Committee member, Dr Adam Posen, a paragraph in the Bank’s Inflation Report for May was regarded as “excessively political” by several members of the Committee.

The offending text was as follows: “A more detailed and demanding path of fiscal consolidation than set out in the March 2010 Budget may therefore be needed in order to avoid unnecessary increases in the cost of issuing public debt.”

Appearing before the Treasury Committee last week, Dr Posen stated that the comment was seen as “excessively political in the context of the election”.

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