LSE professor appointed to Boe’s monetary policy committee
The Chancellor has appointed London School of Economics (LSE) professor Silvana Tenreyro to the Bank of England’s monetary policy committee (MPC).
Tenreyro will replace outgoing member Kristin Forbes, who will step down from the MPC at the end of this month.
The committee, which decides on the path of UK interest rates, had dropped to just eight members from the usual nine after Bank deputy governor Charlotte Hogg was forced to resign in March for failing to declare that her brother works for Barclays.
Chancellor Philip Hammond said: “I am delighted to appoint Professor Silvana Tenreyro as the new external member of the monetary policy committee at the Bank of England.
“I am confident that Professor Tenreyro will be a strong addition to the MPC, bringing a wealth of economic experience and academic rigour to the committee’s deliberations.”
Tenreyro will join the Bank as an external MPC member on 5 July and will be eligible to cast an interest rates vote during the committee’s meeting in August.
Martin Beck, lead UK economist at Oxford Economics, said it was unclear what Tenreyro’s views were on UK monetary policy. But he said the latest MPC recruit, who has British, Argentinian and Italian citizenship, was likely to “shift the MPC’S balance in a dovish direction”.