Charlotte Elizabeth Diana is name of new royal baby

The second child of the Duke and Duchess of Cambridge, born at St. Mary's Hospital in London on May 2, 2015, has been named Charlotte Elizabeth Diana, Kensington Palace announced two days later. She's a sister to toddler Prince George. Elizabeth is the baby's great-grandmother, and the newborn's grandmother is the late Diana, Princess of Wales. (John Stillwell/AP)

Prince William and the Duchess of Cambridge have named their newborn daughter Charlotte Elizabeth Diana, Kensington Palace has announced.

The princess is the couple's second child. She is the fifth great-grandchild of Queen Elizabeth II and the fourth in line to the throne, after her grandfather Charles, her father William and her older brother George. 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 honour Queen Elizabeth II, the infant's 89-year-old great-grandmother, and the late Princess Diana, William's mother.

William and Kate introduced the baby princess Saturday evening to the world, just 12 hours after Kate checked into London's St. Mary's Hospital to give birth. The baby weighed in at eight pounds, three ounces (3.7 kilograms).

Bookmakers had taken huge amounts of bets on the name, with Alice, Charlotte, Elizabeth, Victoria, Olivia and Diana among the most popular guesses.

Earlier Monday, bells at Westminster Abbey pealed and gun salutes were fired across London in honour of the newborn princess. Dozens of deafening volleys were fired from Hyde Park and the Tower of London.

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.