(Bloomberg) -- Swati Dhingra’s appointment to the Bank of England’s interest rate-setting panel was approved on Thursday by an influential panel of UK lawmakers.
The House of commons Treasury Committee said in a statement that it is “satisfied that Dr Dhingra has the appropriate professional competence and personal independence for the role” on the BOE’s Monetary Policy Committee.
The approval comes a day after the panel held a pre-appointment hearing with Dhingra, in which she raised concerns about a recent sharp decline in consumer confidence. She said that data justified taking “gradual approach” to raising interest rates to fight inflation.
Dhingra, an economics professor at the London School of Economics, is due to start her new role on the MPC on Aug. 9, replacing arch hawk Michael Saunders.
Read More: New BOE Policy Maker Prefers Gradual Approach to Rate Rises
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