Clare Lombardelli has been appointed as the next Deputy Governor for Monetary Policy at the Bank of England, a role she will assume on 1st July 2024. Lombardelli will take over from Ben Broadbent, who has been in the position since 2014.
In her upcoming role, Lombardelli will oversee the development and execution of the UK’s monetary policy and lead on the Bank’s initiatives in research, data, and analytics. She will also join pivotal committees within the Bank, including the Monetary Policy Committee, the Financial Policy Committee, and the Court of the Bank of England, becoming a key part of the executive team managing the Bank’s strategic objectives.
Her responsibilities will extend to implementing recommendations from Ben Bernanke’s review of the Bank’s forecasting process and spearheading a new data and analytics strategy in collaboration with the Bank’s Chief Operating Officer. Additionally, Lombardelli will lead the Centre for Central Banking Studies, liaising with UK government sectors and providing assistance to overseas central banks.
Chancellor Jeremy Hunt expressed his support for Lombardelli’s appointment, stating: “I am delighted to appoint Clare Lombardelli as the next Deputy Governor for Monetary Policy at the Bank of England. Clare brings significant experience to the role tackling financial and economic issues both domestically and internationally.” He also extended his gratitude to Broadbent for his service, acknowledging his vital role in the Bank’s efforts to maintain monetary and financial stability.
Andrew Bailey, Governor of the Bank of England, welcomed Lombardelli’s return to the Bank, adding: “I’m really pleased to welcome Clare Lombardelli back to the Bank as Deputy Governor for Monetary Policy. 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.”
