Lambert will not take up seat on Bank’s FPC

Close up of Bank Of England facade with the statue of Duke of Wellington Statue created by Francis Chantrey City of London England

Sir Richard Lambert, a former member of the Bank of England's Monetary Policy Committee, will not take up his seat – as planned – on the Bank's interim Financial Policy Committee (FPC).

Lambert, who is also a former director-general of the Confederation of British Industry (CBI), a trade body, said on Thursday: "Since leaving the CBI I have spent a period away from work and on reflection I have decided, with great regret, that I do not wish to take up my position as an external member of the Ban

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