Governor of Central Bank to be reappointed

THE governor of the Central Bank, John Hurley, is to be reappointed after his current term ends in March, the Department of Finance said yesterday.

Mr Hurley, who is also a member of the European Central Bank’s Governing Council, was appointed head of the Central Bank in March 2002.

“The Minister for Finance stated he was anxious that the governor would continue in office over the coming months to ensure continuity and leadership during the current disruption in financial markets,” his office said in a statement.

The Department of Finance did not specify the length of Mr Hurley’s new term of office.

Mr Hurley has been at the forefront of government moves to help shore up confidence in the country’s banking system. The Government said in December it planned to inject €5.5 billion into the country’s three biggest lenders. The banks’ share prices have plunged as a domestic property bubble burst and the global economy shrinks.

The Government will ask President Mary McAleese re-appoint Mr Hurley in March.