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UK chancellor George Osborne today announced appointment of Gertjan Vlieghe, a senior economist at Brevan Howard Asset Management and a former director of Deutsche Bank as the next MPC member.
He will be replacing David Miles, (whose term is expiring in August) on Bank of England's monetary policy committee from September onwards. He will be serving for three years as external member of the MPC.
Though the market participants are now too busy watching out FED's move, however will soon focus closely on Bank of England's (BOE) moves to pinpoint rate hike from UK, as BOE is clearly to be the next to hike rates.
Each members' view would be watched closely to identify the hawks and the doves in MPC.
So the comments from Dr. Vlieghe would be watched closely.
Since Mr. Miles was on the hawkish side of the camp, Pound might be taking a beating if Mr. Vlieghe turns out to be a dove.
Another hawkish member, Ian McCafferty, who already voted for rate hike last year will also be retiring in August.
Pound is currently trading at 1.56 aginst dollar, supported by good GDP number.
