Published by Global Banking and Finance Review
Posted on February 24, 2025
LONDON (Reuters) -Bank of England Monetary Policy Committee member Swati Dhingra has been reappointed to her role as an external member of the central bank's rate-setting body for a second three-year term, the British government said on Monday.
Dhingra joined the MPC in August 2022 and will now hold the post until August 8, 2028.
The Indian-born economist has been the most consistent voter for looser monetary policy at the BoE. Earlier this month she voted for a half-point cut in interest rates to 4.25% rather than the quarter-point cut backed by the majority.
Policy minutes from the BoE showed the vote for a bigger rate reduction reflected concerns about a "subdued outlook for demand" that was likely to bear down on inflation over the medium term, despite an "expected near-term uptick in regulated prices".
Dhingra is also an associate professor at the London School of Economics where she specialises in trade policy.
External members of the BoE's MPC can serve a maximum of two terms, subject to the approval of the finance minister.
(Reporting by William James; Writing by David Milliken; Editing by Sachin Ravikumar and Suban Abdulla)
