Investing.com – The Bank of England (BoE) announced Monday that Silvana Tenreyro had been appointed to the replace Kristin Forbes as an external member of the Monetary Policy Committee (MPC) that decides on interest rates in the U.K.
Tenreyro will initially serve a three year term beginning in July, effectively replacing Forbes who previously announced that she would step down at the end of her term on June 30.
Tenreyro graduated with a Ph.D in Economics from Harvard University and is currently working as an economics professor at the London School of Economics (LSE).
She specialized in macroeconomics and monetary economics and has taught these subjects at the LSE since 2004.
Previously Tenreyro worked as an economist at the U.S. Federal Reserve Bank of Boston (2002-2004) and she was an external member of MPC at the Bank of Mauritius (2012-2014), voting on interest rate movements.
“I am delighted to appoint Professor Silvana Tenreyro as the new external member of the Monetary Policy Committee at the Bank of England,” U.K. Chancellor of the Exchequer Philip Hammond said in a statement.
“I am confident that Professor Tenreyro will be a strong addition to the MPC, bringing a wealth of economic experience and academic rigor to the Committee’s deliberations,” Hammond added.