Leading Indian-origin academic Swati Dhingra has been appointed as an external member to the Bank of England’s Monetary Policy Committee (MPC). Dhingra was the first Indian-origin woman to join the committee. The MPC is responsible for deciding what monetary policy action the Bank of England will take to keep inflation low and stable. It meets eight times a year to set the Bank of England’s own interest rate
Dhingra, associate professor of economics at LSE and an a.ssociate in the Centre for Economic Performance’s trade programme, will join the panel on 9 August for a three-year term. “Dr Swati Dhingra’s experience in international economics will bring valuable new expertise to the MPC. I am delighted to appoint her to this role and look forward to seeing her contribution to policymaking in the coming years," Rishi Sunak said.
Dhingra will replace current external member, Michael Saunders, who has been on the MPC since August 2016. Dr Swati Dhingra said: “I am very pleased that the Chancellor has appointed me to join the Monetary Policy Committee. The work of the Committee is of great importance as the UK faces an exceptional cost of living crisis amid the global challenges of the pandemic and the war.”
