Bloomberg News

Next U.K. Rate Setter Should Be Woman, MP Tells The Times

May 26, 2012

The U.K. government should appoint a woman to be the next member of the Bank of England’s currently all-male monetary policy committee, a member of parliament from the governing coalition told The Times newspaper.

Naming a woman to succeed current member Adam Posen, who is leaving in August, would bring fresh perspective on the effects of monetary policy on people’s lives, Andrea Leadsom, a Conservative Party member of parliament and a member of the House of Commons Treasury Select Committee, said.

“When you have a group of white middle-aged men, all of whom are without doubt incredibly qualified and experienced, the risk is that they are bringing similar life experiences, similar backgrounds and similar stages of life to their perspective on our economy,” Leadsom told the newspaper. “When you have diversity, you do have much more challenge.”

The nine-member committee has not had a female member since Kate Barker left two years ago.

To contact the reporter on this story: Jason Webb in London at jwebb25@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net


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