U.K. Treasury Advertises for BOE Policy Maker to Replace Posen

The U.K. Treasury advertised for applicants for the Bank of England’s Monetary Policy Committee to replace Adam Posen, who will step down when his term ends in August.

“This is a high profile and influential role,” the Treasury in London said in a statement on its website today. “Candidates must have the technical expertise and experience necessary to make independent monetary policy decisions.”

The Bank of England said earlier this month that Posen, an external member of the MPC, will leave to become president of the Peter G. Peterson Institute for International Economics.

The closing date for applications is June 15, according to the advertisement, which said the post pays 131,771 pounds ($205,200) plus healthcare benefits. The Treasury said external MPC members are not required to hold U.K. nationality, but are “expected to be resident in the U.K.”

To contact the reporter on this story: Scott Hamilton in London at shamilton8@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net