Economist Megan Greene, from the American firm Kroll Institute, will join the Monetary Policy Committee (MPC) of the Bank of England (BoE), where she will replace Silvana Tenreyro, the British Ministry of Finance announced on Tuesday.
Megan Greene will join the MPC on July 5 for a three-year term, the minister said in a statement.
She joins the eight other members of the MPC as they face a tough choice: to continue raising rates, even if it means weakening sluggish growth and a banking sector shaken by repeated shocks, or maintaining them at their current level, despite rising inflation. maintains more than 10%.
Currently chief economist at the Kroll Institute consultancy, Ms. Greene regularly shares her economic positions on social media and in editorials for the Financial Times.
We will continue to face market shocks as long as central banks continue to reduce available liquidity by raising their rates, she said in her last article about the failure of Silicon Valley Bank (SVB).
Ms. Tenreyro, professor of economics at the London School of Economics (LSE), had been at the BoE since 2017 and defended her dove ideas there, as supporters of a flexible monetary policy are nicknamed.
For the moment, this camp has not prevented the BoE from raising its rates during its last eleven meetings, to 4.25%.