Tuesday 22 June 2021 2:21 pm

BoE appoints former Citibank economist Catherine Mann to rate-setting panel

Britain’s finance ministry has today named former Citibank economist Catherine Mann as the newest member of the Bank of England’s Monetary Policy Committee (MPC).

Mann’s three-year stint on the nine-member panel, which sets interest rates and oversees the BoE’s £895bn bond-buying programme, will replace Gertjan Vlieghe on 1 September, who is stepping down after six years.

“I am very happy to announce the appointment of Dr. Catherine L. Mann – her breadth of experience across policy, research and the private sector will be immensely useful to the MPC,” Chancellor Rishi Sunak said.

Before her three years at Citibank, Mann served as chief economist at the Organisation for Economic Co-operation and Development (OECD) between 2014 and 2017.

She joins the central bank at it looks to steer Britain away from the pandemic with record levels of monetary stimulus, without triggering a long-term jump in inflation.

Mann’s appointment will increase the number of women serving on the MPC to two, as she joins Silvana Tenreyro.

“I’m delighted that Dr. Catherine L. Mann has been appointed to the Monetary Policy Committee,” said Andrew Bailey, governor of the Bank of England.

“Her international policy experience, and breadth of research will be a valuable addition to the Committee.”

Jonathan Haskel, an economics professor at Imperial College Business School, has also been reappointed to serve a second three-year term, starting on 1 September.

“I am also delighted to re-appoint Professor Jonathan Haskel to the MPC and I am confident his expertise in productivity and innovation will continue to play an important role,” Rishi Sunak said.