© Reuters. FILE PHOTO: A man walks past the Bank of England (BoE) in London, Britain, December 16, 2021. REUTERS/Toby Melville/
LONDON (Reuters) -Swati Dhingra, an associate professor at the London School of Economics, will join the Bank of England’s Monetary Policy Committee in August after the term of Michael Saunders ends, Britain’s finance ministry said on Thursday.
Dhingra will serve a three-year term on the MPC, which sets interest rates. Her academic focus is on international economics and applied microeconomics.
“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,” she said in a statement.
Dhingra studied for her undergraduate degree at the University of Delhi and received a doctorate from the University of Wisconsin-Madison in the United States.
Her appointment takes the number of women on the nine-member MPC to three, and she is the first Asian woman to be appointed to the role.
“Dr Swati Dhingra’s experience in international economics will bring valuable new expertise to the MPC,” finance minister Rishi Sunak said.
BoE Governor Andrew Bailey also welcomed her appointment and research experience.