Tuesday, March 18, 2014
Broadbent steps up
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Today's announcements regarding the Bank of England were not quite as expected but they do the job. Ben Broadbent, like Mark Carney an ex Goldman Sachs employee, will succeed Charlie Bean as deputy governor responsible for monetary policy. Broadbent, a very able technical economist, is like Carney a dove on interest rates.

The appointment of Nemat Shafik as deputy governor for markets and banking means there will now be a woman on the monetary policy committee. She replaces Paul Fisher, who is one of the losers from today's reshuffle. The Bank now looks different compared with the Mervyn King era.