Project Fear’s voice of doom gets key Bank of England job

the euro. The 53-year-old will take his seat on the Bank’s Monetary Policy Committee in September at a time of fierce debate over whether it should put up interest rates.

They were cut to an all-time low of 0.25 per cent after the EU vote, landing savers with historically bad rates of return and making it cheaper than ever to take on debt.

But the Bank is increasingly concerned that low-cost credit has fuelled a borrowing binge, and several MPC members have said they are now minded to back a rate rise.

Sir Dave’s £273,000-a-year role will also involve overseeing foreign exchange reserves, gold custody and the Bank’s balance sheet. Bank governor Mark Carney said Sir Dave will bring ‘a wealth of experience and economic expertise’.

The new deputy said he was ‘honoured to be joining the Bank and to be given the opportunity to contribute to its mission’.

By James Burton Banking Correspondent A KEY architect of the Treasury’s doom-laden anti-Brexit dossier has been handed one of the top jobs at the Bank of England. When he becomes deputy governor for markets and banking, Sir Dave Ramsden will vote on interest rates and play a vital role in...