The government will lay out the appointment process for the successor to Bank of England governor Mervyn King in due course, Chancellor George Osborne said on Friday.

The influential head of parliament's Treasury Committee, Andrew Tyrie, had called on the government to explain how it will appoint a new governor after speculation mounted about potential candidates.

First of all we have an excellent governor doing his job. he has got a quarter of his term still to fulfil, Osborne said at a media briefing on the sidelines of the spring meeting at the International Monetary Fund.

I will set out later in due course a process for appointing the next governor, he said.

(Reporting by Sven Egenter, Editing by Matt Falloon)