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Dr. Catherine L. Mann’s three-year term will begin on 1 September 2021. Catherine will be replacing Gertjan Vlieghe who has served on the MPC since September 2015. Professor Jonathan Haskel’s second three-year term will also begin on 1 September 2021.
The Chancellor of the Exchequer Rishi Sunak said:
“I would like to thank Gertjan Vlieghe for his crucial contribution to monetary policy making over the last 6 years.
I am very happy to announce the appointment of Dr. Catherine L. Mann – her breadth of experience across policy, research and the private sector will be immensely useful to the MPC.
I am also delighted to re-appoint Professor Jonathan Haskel to the MPC and I am confident his expertise in productivity and innovation will continue to play an important role.”
The Governor of the Bank of England, Andrew Bailey said:
“I’m delighted that Dr. Catherine L. Mann has been appointed to the Monetary Policy Committee. Her international policy experience, and breadth of research will be a valuable addition to the Committee.
I’m also very pleased that Professor Jonathan Haskel has been reappointed for a second term. His work on monetary policy has been effective and insightful, and the Committee will continue to benefit from his expertise.”
About Dr. Catherine L. Mann
Dr. Catherine L Mann is an international economist whose career has spanned across domestic policy in the USA, and global analysis at international organisations, research and the private sector. Most recently, Catherine was the Global Chief Economist at Citibank from February 2018 to May 2021. Prior to that she was the Chief Economist and G20 Finance Deputy at the OECD from October 2014 to November 2017. She has also held positions at Brandeis University, the Federal Reserve Board of Governors, the White House and the World Bank among others.
About Professor Jonathan Haskel
Professor Jonathan Haskel has been an external member of the MPC since September 2018. Alongside this, Professor Haskel is a part-time Professor of Economics at Imperial College Business School and prior to that was Head of the Economics Department at Queen Mary, University of London. He is a Non-Executive Director of the UK Statistics Authority, and is an expert in productivity and innovation.
About the appointment process
Dr. Catherine L. Mann has been appointed following an open recruitment process run by HM Treasury. A panel comprising of Clare Lombardelli (Director General and Chief Economic Advisor, HM Treasury), James Benford (Director of Economics, HM Treasury) and Dame Kate Barker (external member of the MPC from 2001 to 2010) interviewed a number of candidates and made recommendations to the Chancellor, which informed his decision.
The Treasury is committed to appointing a diverse range of people to public appointments, including at the Bank of England. The Treasury continues to take active steps to attract the broadest range of suitable applicants for posts.
Reappointments are not automatic and each case is considered on its own merits. Professor Jonathan Haskel was reappointed to the MPC following consideration by the Chancellor of a number of factors including the diversity of the current board and its balance of skills and experience.
About the Monetary Policy Committee
The independent Monetary Policy Committee makes decisions about the operation of monetary policy. It comprises of the Governor of the Bank of England, the three Deputy Governors, one member of the Bank with responsibility for monetary policy and four external members who are appointed by the Chancellor. External members may serve up to two three-year terms on the MPC.
The appointment of external members to the MPC is designed to ensure that the Committee benefits from thinking and expertise in addition to that gained inside the Bank. Each member of the MPC has expertise in the field of economics and monetary policy. They are independent and do not represent particular groups or areas.