Osborne announces new MPC member

The Chancellor has announced that Dr Gertjan Vlieghe has been appointed as external member of the Monetary Policy Committee.

Related topics:  Finance News
Rozi Jones
28th July 2015
bank of england boe

Dr Vlieghe replaces Professor David Miles who, after six years on the committee, comes to the end of his extended second term at the end of August.

Vlieghe will be appointed for an initial three year term which will take effect from 1st September, holding one of nine votes to decide the future path of UK monetary policy.

Dr Gertjan Vlieghe is Partner and Senior Economist at Brevan Howard Asset Management having previously been a Director at Deutsche Bank.

Prior to his move to the financial services industry, he worked at the Bank of England for seven years where he became economic assistant to the Governor, Lord Mervyn King.

George Osborne said:

"Monetary policy plays a critical role in our long term economic plan, delivering economic security to working people.

"Dr Vlieghe is an economist of outstanding ability who brings experience from his time at both the Bank of England and the financial services industry to the role and will be a strong addition to the MPC.

"I also want to put on record my thanks to David Miles for his service to the MPC, which has benefited enormously from both his expertise and insightful contributions during his time in office."

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