Bank of England Deputy Governor Hogg to Leave at End of Weekby and
Hogg resigned after controversy surrounding appointment
Departure may leave the MPC short a member for a while
Bank of England Deputy Governor Charlotte Hogg will leave the bank this week, which probably means the Monetary Policy Committee will be one member short for its next meeting.
Hogg, who is also chief operating officer, will serve her final day on Friday. She announced her resignation last month, within weeks of being appointed as deputy governor, after failing to inform the BOE that her brother works for Barclays Plc, which the central bank is partly responsible for regulating.
Her end-date was earlier reported by the Telegraph newspaper and confirmed by the bank.
Unless it’s decided to keep one individual performing both roles, Hogg’s departure leaves the BOE and the U.K. Treasury with two positions to fill -- COO and an MPC member. They will also soon have to fill another MPC post because Kristin Forbes will leave in June instead of seeking a renewal of her three-year term.
Hogg’s resignation could mean the nine-person committee is short one member unless an appointment is made before the May 11 policy decision. But it wouldn’t be the first time this has happened. In 2010, there was a brief gap between the departure of Kate Barker and the appointment of her replacement, Martin Weale.