MNI BRIEF: Dhingra Re-appointed To MPC Until Aug 2028

Independent Bank of England Monetary Policy Committee member Swati Dhingra, who has championed lowering the policy rate, has been re-appointed to the MPC for a further three-year term.

Her first term was due to end Aug 2025 and her second term will end Aug 2028. At the February MPC meeting Dhingra voted for a 50 basis point cut, which would have taken the rate to 4.25% rather than the 4.5% favoured by the majority.

While external MPC members have repeatedly been appointed to second terms, and Dhingra re-appointment is no surprise, the process is not automatic. Dhingra is a trade economist by background and has repeatedly highlighted the weakness of the UK economy and aggregate demand.