New Bank of England rate-setter to be announced in mid-May

LONDON, March 27 (Reuters) - Britain's finance ministry will announce in mid-May who will fill a vacancy on the Bank of England's Monetary Policy Committee, according to a job advert for the position posted this week.

A radical shake-up of the BoE (Shenzhen: 000725.SZ - news) 's management structure earlier this month left an opening for an external member of the nine-person rate-setting committee.

The advert, posted on the Cabinet Office website, said interviews would take place on April 29 or May 1, with the successful candidate to be announced in mid-May. The appointment will commence on July 1.

External MPC members are normally academics or economists from major banks or research institutions, selected by Britain's finance minister to ensure the policymakers bring a wide range of experience.

That has not translated into diversity of gender or race, however.

Aside from International Monetary Fund official Nemat Shafik, whose appointment as a new deputy governor for markets and banking was announced earlier this month, the MPC (KOSDAQ: 050540.KQ - news) is still an all-male team.

Since taking office in July, BoE Governor Mark Carney has been keen to increase the number of women in senior BoE roles.

External members of the MPC are appointed on a part-time basis averaging three days a week, and receive total compensation of 135,751 pounds ($224,900). ($1 = 0.6037 British Pounds) (Reporting by Andy Bruce; Editing by Ruth Pitchford)