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Bank of England: Two new deputy governors named | |
(about 1 hour later) | |
Two new deputy governors have been named at the Bank of England, as part of management changes set to be announced by governor Mark Carney. | |
Ben Broadbent will become deputy governor responsible for monetary policy, and Nemat Shafik will take charge of markets and banking. | |
Both will sit on the rate-setting monetary policy committee (MPC). | |
The appointments are the first of several changes Mr Carney is expected to announce at the Bank. | |
It is thought he will use a speech in London on Tuesday evening to announce his plans to modernise the Bank. | |
'Ambitious agenda' | |
Ben Broadbent, who takes over from the retiring Charlie Bean on 1 July, will be responsible for the Bank's analysis of the UK economy. | |
Ms Shafik, an International Monetary Fund official, will become the first female MPC member since 2010 when she replaces executive director for markets, Paul Fisher, on 1 August. | |
She will be in charge of the Bank's eventual exit from its quantitative easing policy, which it has so far used to inject £375bn into the economy by buying government bonds. | |
Ms Shafik will also lead the Bank's review on its market intelligence, which has come under attack after claims some Bank officials knew about the alleged fixing of foreign exchange rates. | |
The Bank also named Anthony Habgood as chairman of its supervisory body, the Court of Directors. | |
"These appointments result in a well-rounded senior management team at the Bank - one that will set the direction for an ambitious agenda of transformation," said Mr Carney. |