- Megan Greene has been appointed as an external member of the
Monetary Policy Committee (MPC)
- Megan Greene is currently Global Chief Economist at Kroll and
will succeed Silvana Tenreyro
- Megan’s three-year term will start on 5 July 2023
Megan Greene will join the Monetary Policy Committee (MPC) on 5
July for a 3-year term, replacing current external member
Professor Silvana Tenreyro who has been on the MPC since July
2017.
Megan Greene is currently Global Chief Economist at Kroll, has a
broad understanding of financial markets internationally and
significant experience of advising leaders on the potential
impacts of global macroeconomic developments.
The Chancellor of the Exchequer, said:
Megan Greene’s wide experience across financial markets and the
real economy will bring valuable new expertise to the MPC. I am
delighted to appoint her to this role and look forward to seeing
her contribution to policymaking in the coming years.
I would also like to thank Professor Silvana Tenreyro for all her
work since she joined the Bank of England, and wish her the best
in the next stage of her career.
Andrew Bailey, Governor of the Bank of England, said:
I am very pleased to be welcoming Megan Greene to the MPC this
summer. She brings significant experience from her work across
financial services and academia and we will benefit greatly from
her contributions to our policy discussions.
Silvana Tenreyro has made a tremendous contribution to the work
of the MPC over the past six years. I would like to extend my
thanks and wish her all the best for the future.
Megan Greene said:
I’m honoured and thrilled to have the opportunity to contribute
to the policy debate at the Bank of England as an external member
of the MPC. It will be a privilege and a challenge to help
address some of the key monetary policy challenges of our time.
About Megan Greene
Megan Greene is a Senior Fellow at the Watson Institute for
International and Public Affairs at Brown University, teaching on
the new drivers of global inequality, sovereign debt crises and
monetary policy tools. She is the Global Chief Economist at Kroll
and a board member of the Academic Advisory Committee at the San
Francisco Fed.
Megan received her undergraduate degree from Princeton University
and her postgraduate degree from Oxford University.
About the MPC
The independent Monetary Policy Committee makes decisions about
the operation of monetary policy. It comprises of the Governor of
the Bank of England, the three Deputy Governors, one member of
the Bank with responsibility for monetary policy and four
external members who are appointed by the Chancellor.
External members may serve up to two three-year terms on the MPC.
The appointment of external members to the MPC is designed to
ensure that the Committee benefits from thinking and expertise in
addition to that gained inside the Bank. Each member of the MPC
has expertise in the field of economics and monetary policy. They
are independent and do not represent particular groups or areas.
About the appointment process
Megan Greene has been appointed following an open recruitment
process run by HM Treasury. A panel comprising of Clare
Lombardelli (Director General and Chief Economic Advisor, HM
Treasury until March 2023), James Benford (Director of Economics,
HM Treasury until February 2023) and Dame Kate Barker (external
member of the MPC from 2001 to 2010) interviewed several
candidates and made recommendations to the Chancellor, which
informed his decision.
The Treasury is committed to appointing a diverse range of people
to public appointments, including at the Bank of England. The
Treasury continues to take active steps to attract the broadest
range of suitable applicants for posts.
