Swati Dhingra to join Bank of England's monetary policy committee
12 May 2022
Swati Dhingra has been appointed to the Bank of England’s Monetary Policy Committee (MPC) by chancellor Rishi Sunak.
The MPC is responsible for deciding what monetary policy action the Bank of England will take to keep inflation low and stable. It meets eight times a year to set the Bank of England’s own interest rate.
Dr Dhingra, associate professor of economics at LSE and an associate in the Centre for Economic Performance’s trade programme, will join the MPC on 9 August for a three-year term.
The MPC is made up of nine members, four are external members appointed directly by the chancellor for fixed terms. Dr Dhingra will replace Michael Saunders, who has been on the MPC since August 2016.
Chancellor of the exchequer, Rishi Sunak said: “Dr Swati Dhingra’s experience in international economics will bring valuable new expertise to the MPC. I am delighted to appoint her to this role and look forward to seeing her contribution to policymaking in the coming years.”
Dr Dhingra said: “I am very pleased that the chancellor has appointed me to join the Monetary Policy Committee. The work of the committee is of great importance as the UK faces an exceptional cost of living crisis amid the global challenges of the pandemic and the war.
“It will be an honour to learn from the Bank’s vast expertise and regional visits, “to listen and to explain”, and to bring evidence to bear on the crucial policy decisions of the committee.”
Previous and current associates of CEP who have sat on the MPC include Stephen Nickell, Sushil Wadhwani, Willem Buiter, Silvana Tenreyro and Jonathan Haskel.