Dr Martin Weale joins Monetary Policy Committee
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Chancellor George Osborne has today announced that Dr Martin Weale will succeed Kate Barker as external member on the Bank of England’s monetary policy committee.
Dr Weale will be able to participate in the August MPC meeting and the forecast round leading up to it.
He has been a director of the National Institute of Economic and Social Research since 1995 and was appointed CBE for his services to economics in 1999. In 2006 he was appointed to the Board of Actuarial Standards.
Osborne says: “I am delighted that Dr Weale has agreed to join the monetary policy committee. His experience of economic forecasting and data analysis derived from fifteen years as director of the National Institute for Economic and Social Research will be extremely valuable to the committee.”
Minutes from the latest MPC meeting show that a single member of the MPC - Andrew Sentence - voted for the first base rate increase in almost two years.
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