MNI BRIEF: Academic Taylor Appointed To BOE's MPC

MNI ((MNI) London) - MNI (LONDON) - The Bank of England Monetary Policy Committee will be back up to full strength at its meeting ending with a decision on Sept 20 with Professor Alan Taylor joining on Sept 2 to replace Jonathan Haskel.

WIth the MPC having split five-to-four over its August cut there had been speculation about the implications of only having an eight-member committee. Taylor is a professor at Columbia University, a visiting scholar at the BOE, and has advised financial institutions including PIMCO and Morgan Stanley. (See MNI BOEWATCH: Bank Delivers 'Finely Balanced' Rate Cut)

An associate of the NBER and CEPR, among his research findings he has stated that when monetary policy is accommodative over an extended period it increases the likelihood of financial turmoil down the road. He appears not to have commented on the current UK policy debate.