Interest rate rise advocate to join bank committee

A senior economist who has forecast up to three interest rate rises this year is to join the Bank of England’s team of policymakers this summer.

Ben Broadbent, who has worked for investment bank Goldman Sachs since 2000, will replace Andrew Sentance, currently the BoE’s strongest advocate for a rate hike, on the nine-strong monetary policy committee (MPC) in June.

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The Treasury said that out of the 27 applications for the role only one was from a woman and added it would like to see a greater number of female applicants in the future.

The committee has been all male since the departure of Kate Barker last year.

Some economists said Mr Broadbent appears to share some of Mr Sentance’s views but warned that it was difficult to predict how a new MPC member would behave once they had taken their seat on the committee.