The UK Treasury has appointed Ian McCafferty, chief economics adviser at the Confederation of British Industry (CBI) since 2001, as the new external member of the Bank of England's Monetary Policy Committee (MPC).
McCafferty, who was formerly head of macroeconomics at BP and a director of international economics at Natwest Markets, will replace Adam Posen, who did not attempt to renew his three-year term when it expires on August 31 and instead will join the Peterson Institute of International E
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