New appointment: Rachel Reeves confirmed that economics professor Alan Taylor will join the nine-strong Monetary Policy Committee
The Bank of England has appointed a new member to its rate-setting committee.
Chancellor Rachel Reeves confirmed yesterday that economics professor Alan Taylor will join the nine-strong Monetary Policy Committee (MPC) on a three-year term.
He will take over from external committee member Jonathan Haskel, who is stepping down after six years.
Taylor, who was born in Wakefield, West Yorkshire, is a professor of international and public affairs at Columbia University, New York.
He has served as a senior adviser to major financial institutions including Morgan Stanley and Pimco, and is a visiting scholar at the Bank of England.
Reeves said Taylor’s ‘substantial experience in both the financial sector and academia will bring valuable expertise to the MPC’.
She also thanked Haskel ‘for all his work since he joined’ the committee.
Bank governor Andrew Bailey said: ‘I’m really pleased Alan Taylor will be joining the MPC this autumn, bringing with him his extensive knowledge and experience.
‘I would like to also thank Jonathan Haskel. He will be missed.’
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