Bank MPC member to step down next year
A key member of the Bank of England's Monetary Policy Committee (MPC) is to step down at the end of February next year.
Minouche Shafik, who is part of the nine-strong MPC which sets UK interest rates, is leaving Threadneedle Street to become the director of the London School of Economics (LSE).
Ms Shafik joined the Bank as deputy governor for markets and banking on August 1, 2014, after previously working at the International Monetary Fund (IMF) and the World Bank.
The Bank said the Treasury will now begin the process of recruiting her successor.
Ms Shafik, who will join the LSE in September 2017 after a "post-employment cooling off period", said the Bank had stood up to every test by maintaining stability with a modern approach.
"The Bank is a vital institution full of talented people committed to serving the public good - I will miss them a great deal."