MNI BRIEF: Megan Greene To Join BOE MPC, Replacing Tenreyro

Megan Greene, currently Global Chief Economist at Kroll, will replace external member Silvana Tenreyro on the Bank of England's Monetary Policy Committee for a three-year term starting 5 July, the Treasury confirmed Tuesday.

While Tenreyro has consistently been at the dovish end of the MPC spectrum, Greene joins with a clean slate, having focussed her press columns and other public commentary primarily on the US and euro area, focussing mainly on monetary policy tools.

Greene has warned of the problems of quantitative tightening creating liquidity shortages, making quantitative easing hard to reverse, has said that the US will be hard-pressed to avoid a recession in the second half of this year and highlighted the problems of labour shortages caused by ageing populations. While she has warned that the Fed may need to keep tightening her views on recent UK developments are less clear cut.