Alan Taylor Appointed to Bank of England MPC

The UK government has appointed Professor Alan Taylor, an economist from Columbia University, to the Bank of England's Monetary Policy Committee (MPC), effective September 2. He replaces Jonathan Haskel, who has served on the committee since 2018. Taylor brings extensive experience from both academia and the financial sector, having worked as a senior advisor for institutions like Morgan Stanley and PIMCO. His appointment marks the first under the new Labour government following its recent election victory. Chancellor Rachel Reeves expressed confidence in Taylor's expertise, emphasizing the importance of his contributions during a critical time for monetary policy. The MPC's next meeting, where Taylor will participate, is scheduled for September 19.