LONDON – The CBI’s Chief Economic adviser, Ian McCafferty,
has been appointed to replace Adam Posen on the Bank of England’s
Monetary Policy Committee.
With Posen leaving at the end of August and McCafferty starting in
September it means there will be no gap between the two terms.
McCafferty has been with the CBI, the employers’ body, for 11 years and
is a well known business economist.
“I’m extremely pleased that Ian has accepted this appointment. he
is a respected economist with industrial experience and he will be a
welcome addition to the MPC,” BOE Governor Mervyn King said.
John Cridland, CBI Director-General, said: “I am delighted that Ian
has been appointed to the MPC. At a time when the private sector is so
vital to the future of the British economy, it is good news that Ian’s
excellent understanding of the economy will be available to the Bank.
-London newsroom: 4420 7862 7491; email: drobinson@marketnews.com
wwilkes@marketnews.com
[TOPICS: M$$BE$]
