The Chancellor, Philip Hammond, today announced that Dr Gertjan Vlieghe will be appointed for a second three-year term as an external member of the Monetary Policy Committee (MPC). His second term will start from 1st September 2018.
The Chancellor said:
“Dr Vlieghe has provided a valuable and effective contribution to monetary policy through his deep understanding of the UK economy. I am therefore pleased that he will continue to share this expertise as a member of the Monetary Policy Committee.”
Commenting on the announcement, Mark Carney, Governor of the Bank of England, said:
“Gertjan Vlieghe is a hugely valued colleague on the Monetary Policy Committee. Our deliberations on the Committee have benefited from his rigorous analysis and carefully argued contributions. I am delighted he has been re-appointed to serve another three years on the Committee.”
As an external member of the MPC, Dr Vlieghe will hold one of nine votes to decide the future path of UK monetary policy. The MPC meets eight times a year to set monetary policy in line with the objectives set out in its remit. The primary objective is to ensure price stability.