Irish Central Bank Governor Patrick Honohan confirmed today that he intends to retire at the end of the year, nine months before his seven-year term was due to end.

Honohan, who was appointed in September 2009 at the height of Ireland's financial crisis, said it was a good time to retire as the bank was moving from a crisis management phase to one of repair and consolidation

"That is more an implementation phase, a new chapter and a good time to hand over to somebody else," Honohan, who is also a member of the European Central Bank's (ECB) governing council, told a news conference, adding that he would remain in his job until at least November 1. (Reuters)

Source: www.businessworld.ie