Hank Paulson said yesterday that he intends to stay as US Treasury secretary for the rest of the Bush presidency, quashing rumours that he might leave to become head of Citigroup.

"Let me say I'm going to be running full speed here at the Treasury right up until the end of President Bush's term, that is what I am focused on and I'm focused on doing everything I can to help the US economy," he said on CNBC.