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UK names two new Bank of England deputy governors

Tuesday, 18 March 2014 - 3:24pm IST | Agency: Reuters

Britain named two new deputy governors for the Bank of England on Tuesday - Monetary Policy Committee member Ben Broadbent and International Monetary Fund official Nemat Shafik.

Broadbent will succeed Charlie Bean as deputy governor responsible for monetary policy on July 1, while Shafik will take on the newly created role of deputy governor for markets and banking from Aug. 1.

Both deputy governors will sit on the BoE's rate-setting MPC, with Shafik taking the seat currently held by the BoE's executive director for markets, Paul Fisher.

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