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MILES HAS THE MPC FACTOR

MORGAN Stanley&rsquo;s chief UK economist David Miles beat 71 other applicants when he clinched a &pound;128,600 role on the Bank of England&rsquo;s nine-member Monetary Policy Committee. Miles will replace David Blanchflower, the policy maker widely credited with predicting the scale of the recession. Blanchflower leaves this week, and Miles is expected to stay for a three-year term.<br />