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Charlotte Hogg: I'll challenge my boss at Bank in my new MPC role

By Ben Woods

Bank of England deputy governor Charlotte Hogg said she is prepared to challenge Mark Carney in her new role on the Monetary Policy Committee (MPC).

In her first meeting with the Treasury Select Committee, Ms Hogg said there was no sign of "group think" among the Bank's rate setters and that she was willing to take "painful decisions" if they are the "right thing to do".

Ms Hogg will take up the role of deputy governor for markets and banking this month, overseeing the Bank's balance sheet and sitting on the MPC, the Financial Policy Committee, the Prudential Regulation Committee and the Court of the Bank of England.

When asked whether she was capable of challenging the governor of the Bank of England publicly, she replied: "I do."

"I have challenged him more in my pre-existing role. In my responsibilities we have disagreed. They tend to be around staff issues or particular parts of the organisation. Sometimes I ended up agreeing with him and sometimes he ended up agreeing with me, but there are a number of examples when we have not been at sync in the beginning."

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