Silvana Tenreyro Appointed To Bank Of England MPC
June 19 2017 - 5:15AM
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An economics professor Silvana Tenreyro is set to replace
Kristin Forbes on the Bank of England's rate-setting body, the HM
Treasury announced on Monday.
Tenreyro, who is a professor at the London School Economics, was
appointed as an external member of the Monetary Policy Committee
for a three-year term that will take effect on July 7.
She will replace Forbes, who is set to step down at the end of
her term on June 30. Forbes was among the three policymakers who
sought a quarter-point rate hike last week.
"I am delighted to welcome Silvana Tenreyro to the Monetary
Policy Committee and am very much looking forward to working with
her," BoE Governor Mark Carney said.
"Her extensive and varied academic experience - on the monetary
transmission mechanism, the dynamics of productivity, trade,
housing issues as well as wage dynamics, to name just a few - will
be invaluable to the Committee as it seeks to promote the good of
the people of the United Kingdom through maintaining monetary
stability."
With the latest appointment, the nine-member MPC will have eight
members. The place left vacant by the resignation of Charlotte Hogg
is yet to be filled.
Hogg stepped down in March after it was realized that she failed
to declare a conflict of interest. She came under sharp criticism
for not disclosing about her brother's job in Barclays Plc.
Tenreyro, who holds a Ph.D in Economics from the Harvard
University, is already an academic visitor at the Bank of England.
She specializes in macroeconomics and monetary economics.
She has also worked as an economist at the US Federal Reserve
Bank of Boston and as a policymaker at the MPC at the Bank of
Mauritius.
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