The Bank of England (BoE) has announced that a key member of its monetary policy committee (MPC) is stepping down at the end of February to become director of the London School of Economics (LSE).
The central bank said advertising for a successor for Minouche Shafik, who takes the LSE reins in September next year, will happen in due course.
Shafik joined the BoE as deputy governor for markets and banking in August 2014, after roles at the International Monetary Fund and the World Bank, and her term was due to end in July 2019.
Bank of England Governor Mark Carney said Shafik “helped drive vital reforms on the domestic and international stages” and he credited her with leaving “an important legacy”. Shafik’s departure will make Kristin Forbes the only female member of the nine-strong MPC.