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UK lawmaker asks BoE to review code of conduct for rate-setters

Reuters - UK Focus

LONDON, Aug 24 (Reuters) - The Bank of England must review its code of conduct for monetary policymakers after a recent appointment raised questions about a possible conflict of interest, the chairman of an influential committee of British lawmakers said on Monday.

Incoming Monetary Policy Committee member Gertjan Vlieghe last month severed all links with his previous employer, one of the world's biggest hedge funds, to avoid "any mistaken impression" of a conflict of interest.

The move only occurred after questions were raised about Vlieghe's ties to the firm.

In a letter to BoE Governor Mark Carney, Treasury Committee chair Andrew Tyrie said this suggested the code of conduct would "benefit from re-examination".

"It (Other OTC: ITGL - news) is essential that those appointed to the MPC (KOSDAQ: 050540.KQ - news) have no conflicts of interest, nor perception of them," said Tyrie. (Reporting by Andy Bruce, editing by William Schomberg)