Hogg to leave office

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Published Apr 24, 2017

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London - Bank of England Deputy Governor, Charlotte Hogg, is set to leave

the bank this week, which probably means the Monetary Policy Committee will be

one member short for its next meeting.

Hogg, who is also chief operating officer, will serve her

final day on Friday. She announced her resignation last month, within weeks of

being appointed as deputy governor, after failing to inform the BOE that her

brother works for Barclays Plc, which the central bank is partly responsible

for regulating. Her end-date was earlier reported by the Telegraph newspaper

and confirmed by the bank.

Unless it’s decided to keep one individual performing both

roles, Hogg’s departure leaves the BOE and the UK Treasury with two positions

to fill COO and an MPC member. They will also shortly have to fill another MPC

post because Kristin Forbes will leave in June instead of seeking a renewal of

her three-year term.

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Hogg’s resignation could mean the nine-person committee is

short a member unless an appointment is made before the May 11 policy decision.

But it wouldn’t be the first time this has happened. In 2010, there was a short

gap between the departure of Kate Barker and the appointment of her

replacement, Martin Weale.

 BLOOMBERG

 

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