A new external member of the Bank of England’s Monetary Policy Committee (MPC) has been appointed.
Professor Silvana Tenrayo will start a three-year term on the MPC – the committee that sets UK interest rates – on 7 July.
She will replace Kristin Forbes, who ends her term of office on 30 June.
Ms Forbes was one of three policymakers on the MPC who voted last week to raise interest rates from the record low of 0.25%.
In a statement, Bank of England governor Mark Carney said: “I am delighted to welcome Silvana Tenreyro to the Monetary Policy Committee and am very much looking forward to working with her.
“Her extensive and varied academic experience – on the monetary transmission mechanism, the dynamics of productivity, trade, housing issues as well as wage dynamics, to name just a few ¬- will be invaluable to the committee as it seeks to promote the good of the people of the United Kingdom through maintaining monetary stability.”