Dhingra is an Associate Professor of Economics at the London School of Economics (LSE) who specializes in International Economics and Applied Microeconomics.
Dhingra, who studied at the University of Delhi and received his Masters from the Delhi School of Economics, will join the Monetary Policy Committee (MPC) on August 9 for a three-year term.
The independent MPC of the Bank of England decides on the conduct of monetary policy in the United Kingdom. It consists of the Governor of the Bank of England, its three Deputy Governors, a member of the bank responsible for monetary policy and four external members appointed by the Chancellor.
UK Chancellor of the Exchequer
Sunak announced his appointment last week, describing him as someone who would bring “valuable new skills” to the committee, which has important work to do in setting the country’s interest rates.
“Dr. Swati Dhingra’s experience in the international economy will bring valuable new skills to the MPC. I am delighted to have her in this role and look forward to seeing her contribution to policy making in the years to come,” said the Indian-origin finance minister. Statement
Dhingra will replace current external member Michael Saunders, who has been in the MPC since August 2016.
“The committee’s work is extremely important because the UK has faced an exceptional cost of living amid the global challenges of the epidemic and the war,” Dhingra said in the context of his appointment.
“It would be an honor to learn from the bank’s vast expertise and regional inspections, to ‘listen and interpret’, and to bring evidence to carry out important policy decisions of the committee,” he said.
Andrew Bailey, Governor of the Bank of England, welcomed the move, saying that the “insights and perspectives” of academics would be invaluable to the Bank’s discussions.
“We will benefit from his extensive research into the international economy,” he said.
In addition to his role at the London School of Economics, Dhingra is an elected member of the Council of the Royal Economic Society and a peer-reviewer on the editorial board of the Review of Economic Studies and an associate editor of the Journal of International. Economy ‘. He is also a Research Associate in the Trade Program at the Center for Economic Performance and a Research Fellow at the Center for Economic Policy Research.
She completed her MS and PhD from the University of Wisconsin-Madison and has previously been a member of the UK’s Trade Modeling Review expert panel and LSE’s Economic Diplomacy Commission. He is currently a director at the Royal Mint Museum and a member of the steering group for the research project “The Economy 2030 Inquiry”.
According to the UK Government’s Treasury Department, the MPC is designed to recruit external members so that the committee can benefit from the thinking and skills acquired within the bank.
Each member of the MPC has expertise in economics and monetary policy and they do not represent independent and specific groups or areas.
Dhingra was reportedly appointed following an open recruitment process conducted by the Treasury on the recommendation of a panel of advisers.