London, February 26: Swati Dhingra, a distinguished economist from the London School of Economics (LSE), has been reappointed as an external member of the Monetary Policy Committee (MPC) of the Bank of England for a second three-year term. Her tenure, initially set to conclude on August 8, 2025, will now extend until August 2028.
Dhingra, an Associate Professor of Economics at LSE with expertise in international economics and applied microeconomics, was first appointed to the MPC in 2022. She completed her education at the University of Delhi and the Delhi School of Economics before establishing herself as a leading researcher in the field.
The UK Treasury confirmed the reappointment, emphasizing that such decisions are not automatic and are evaluated on individual merit. “This reappointment was made by the Chancellor of the Exchequer, Rachel Reeves, in line with the requirements of the Governance Code for Public Appointments,” the department stated. The inclusion of external members in the MPC is intended to bring diverse perspectives and expertise beyond those from within the Bank of England.
The MPC, an independent body of the Bank of England, plays a crucial role in setting the country's monetary policy, including determining interest rates to align with inflation targets. The committee consists of the Bank’s Governor, three Deputy Governors, the Chief Economist, and four external members. These external experts are appointed by the Chancellor and can serve up to two consecutive three-year terms.
Dhingra’s contributions to economics extend beyond the MPC. She is an Associate of the Centre for Economic Performance at LSE and has received research funding from various prestigious institutions, including the Economic and Social Research Council, European Research Council, and UK Research and Innovation. Her academic excellence was recognized when she won the UK Office for National Statistics’ Research Excellence People’s Choice Award in 2019.
In addition, she has been the Director of the Review of Economic Studies journal since January 2023 and has served on the UK’s Trade Modelling Review Expert Panel and LSE’s Economic Diplomacy Commission.
Her reappointment ensures continuity in the MPC’s policymaking at a time when the UK’s economy navigates inflationary pressures and global economic challenges.