Clare Lombardelli appointed deputy governor at the Bank of England

Clare Lombardelli has been appointed as the next deputy governor for monetary policy at the Bank of England, replacing Ben Broadbent.

Lombardelli, who is currently chief economist at the Organisation for Economic Co-operation and Development (OECD), will take up her role on the Monetary Policy Committee (MPC) on 1 July.

Her responsibilities will include implementing UK monetary policy and leading the Bank’s research and analytics. She will also lead the actions in response to Ben Bernanke’s review into the Bank’s forecasting process.

Before joining the OECD, Lombardelli was chief economic adviser to the Treasury and joint head of the Government Economic Service. She started her career at the Bank of England.

Her departure to the OECD in January last year, after over 20 years at the Treasury, came as a blow to the government.

“I am delighted to appoint Clare Lombardelli as the next Deputy Governor for Monetary Policy at the Bank of England,” Chancellor Jeremy Hunt said.

“Clare brings significant experience to the role tackling financial and economic issues both domestically and internationally,” he continued.

Andrew Bailey, governor of the Bank, said: “Clare’s impressive career means she brings a huge amount of relevant experience and expertise to the Monetary Policy Committee, and the Bank more broadly, at a time of great importance for the UK economy.”

Broadbent has served at the Bank since 2014, having previously been an external member of the MPC. Bailey said: “I would also like to thank Ben Broadbent for his service. He will be missed, and all at the Bank wish him the very best for the future”.