LONDON - Britain's newborn princess has been named Charlotte Elizabeth Diana.

The princess is the second child of Prince William and his wife Kate, the Duchess of Cambridge. The baby will be known as Her Royal Highness Princess Charlotte of Cambridge, royal officials said Monday.Charlotte, the feminine form of Charles, appears to be a nod to the newborn's grandfather, Prince Charles. The middle names honor Queen Elizabeth II, the infant's 89-year-old great-grandmother, and the late Princess Diana, William's mother.The princess is fourth in line to the throne after Charles, William and her older brother Prince George.William and Kate introduced the baby princess to the world Saturday evening, just 12 hours after Kate checked into a London hospital to give birth. The baby weighed in at 8 pounds, 3 ounces (3.7 kilograms).The couple had kept the world guessing about the name until after both sets of grandparents got a chance to visit Kensington Palace on Sunday to meet their granddaughter.Bookmakers had taken huge amounts of bets on the name, and Charlotte had been a favorite choice, a front runner alongside other guesses like Alice and Victoria.Earlier Monday, bells at Westminster Abbey pealed and gun salutes were fired across London in honor of the newborn princess. Dozens of deafening volleys were fired from Hyde Park and the Tower of London.The newborn may herald a new generation in the monarchy, but it is customary for royals to look to their past for name ideas. The repetition of names in each generation is at least partly an effort to preserve the continuity of one of the world's oldest institutions.Many though it was likely that William and Kate would use the name Diana as one of the baby's middle names to avoid comparisons with her late grandmother. Like most royals, the baby's brother, Prince George, has more than one middle name (George Alexander Louis), and the same treatment is expected for her.The couple issued a statement of thanks Sunday in response to the outpouring of goodwill and international interest in their baby."The Duke and Duchess are hugely grateful for the messages of congratulations they have received from people all over the world," their press office said in a statement. "It means a great deal to them that so many people have celebrated the arrival of their new daughter."The princess is fourth in line to the British throne, after her grandfather Charles, her father William and her older brother George. She will be known formally as Her Royal Highness, Princess (name) of Cambridge.William's father and stepmother, Charles and Camilla, the Duchess of Cornwall, went to Kensington Palace on Sunday to visit the baby for the first time, joining Kate's parents Michael and Carole Middleton and her sister Pippa.Prince Harry, who is in Australia, said about his new niece: "She is absolutely beautiful. I can't wait to meet her."