Britain's Osborne re-appoints McCafferty at Bank of England
LONDON, May 20 (Reuters) - British finance minister George Osborne said he had re-appointed Ian McCafferty to serve as an external member of the Monetary Policy Committee, the interest-rate setting panel of the Bank of England.
McCafferty's second term on the MPC (KOSDAQ: 050540.KQ - news) will begin Sept. 1 and last until Aug. 31 2018, Osborne said in a statement on Wednesday.
McCafferty was one of two members of the nine-member MPC who voted for an increase in interest rates in the final months of 2014 before re-joining the majority voting to keep rates on hold at the start of this year as inflation plunged.
Osborne also said he would soon start the search for a replacement on the MPC for David Miles whose term at the Bank ends at the end of August. (Writing by William Schomberg; Editing by Louise Ireland)