BoE Appoints LSE Professor Silvana Tenreyro to MPC

The Bank of England has appointed Professor Silvana Tenreyro as the newest member of the Monetary Policy Committee.

Tenreyro, currently an economics professor at the prestigious London School of Economics, will join as an external member and replace US economist Kristin Forbes, who leaves on June 30.

The MPC is highly important because it meets eight times a year to set UK monetary policy, including cutting, holding, or raising interest rates.



Last week the Committee voted by 5 to 3 to keep interest rates at a record low of 0.25% — where it has been fixed since last summer — and cap its Quantitative Easing programme at £435 billion, despite soaring inflation.

The fact that 3 members voted to raise interest rates mean that it could be moving towards a hike — most likely back up to 0.5% — and the question of whether Tenreyro is hawkish herself will be of interest to investors.

via Business Insider

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza