Former Citi economist Catherine Mann appointed to MPC

Former Citibank economist Catherine Mann has been appointed to the Bank of England’s rate-setting committee, Chancellor Rishi Sunak confirmed on Tuesday.

Mann will replace Gertjan Vlieghe, who has sat on the Monetary Policy Committee since September 2015 and is due to step down on 31 August. Mann will begin her three-year term on 1 September.

Mann has held positions at various leading institutions during her career, including the White House, US Federal Reserve and World Bank. From 2014 to 2017 she was chief economist and G20 finance deputy at the Organisation for Economic Co-operation and Development, before joining Citi as its global chief economist in 2018.

She left the role in May 2021.

Sunak said: “[Mann’s] breadth of experience across policy, research and private sector will be immensely useful to the MPC.”

Andrew Bailey, BoE governor, said he was “delighted” Mann was joining the MPC, adding that her “breadth of research will be a valuable addition”.

The Chancellor also confirmed on Tuesday that Jonathan Haskel, an economics professor at Imperial College Business School, had been reappointed to a second three-year term on the MPC. Haskel’s second term will begin on 1 September.

The MPC – which sets interest rates as well as overseeing the BoE’s bond-buying programme – consists of nine members: the BoE governor, the three deputy governors and four external members, which are appointed by the Chancellor