CHANCELLOR ANNOUNCES NEW MEMBER OF THE MONETARY POLICY COMMITTEE

Kate Barker has been appointed to the Bank of England's Monetary Policy Committee (MPC), Chancellor Gordon Brown announced today.

Ms Barker was appointed Chief Economic Adviser at the Confederation of British Industry in 1994, having previously been Chief Economist at Ford Europe for nine years. Ms Barker will take up her membership of the MPC on 1 June. She will replace Dr DeAnne Julius whose term expires on 31 May.

Gordon Brown said:

?I am delighted that Kate Barker has agreed to join the Monetary Policy Committee."

?I would like to thank DeAnne Julius for her outstanding contribution to the MPC's work over the past three and a half years, and wish her well for the future?.

NOTES TO EDITORS

Ms Barker's CV is attached. She will be working four days a week at the Bank.
The Chancellor announced the establishment of the MPC as part of the new framework for monetary policy on 6 May 1997.
Operational decisions on interest rate policy are made by the MPC. It comprises the Governor of the Bank of England, the two deputy Governors, two members of the Bank with responsibility in the Bank for monetary policy and market operations and four outside members with relevant expertise who are appointed by the Chancellor.
Members of the MPC are appointed to the Bank staff. However they may engage, with the permission of the Chancellor, in outside activities which do not present a conflict of interest.
Dr Julius is one of the four external members appointed by the Chancellor. Under Section 13(4) of the Bank of England Act 1998, the Chancellor is required to appoint people who have "knowledge or experience which is likely to be relevant to the Committee's functions."
Dr Julius was appointed to the MPC by the Chancellor on an interim basis on 2 June 1997. Her appointment was confirmed after the Bank of England Act 1998 was passed by Parliament. Dr Julius? three year term ends on 31 May 2001.
Media enquiries should be addressed to Steve Field, Treasury Press Office on 020 7270 5252 or Peter Rodgers at the Bank of England on 020 7601 4411

CURRICULUM VITAE
Personal details

Katharine Mary Barker

Date of Birth: 29 November 1957

Married with two children.

Education
BA Philosophy, Politics and Economics, St Hilda's College, Oxford.

Present positions
CBI's Chief Economic Adviser.

Member of the Board of Governors at Anglia Polytechnic University.

Member of the Institute for Public Policy Research's Commission on Public Private Partnerships.

Main previous appointments
Member of Panel of Independent Forecasters, HM Treasury, 1996-97.

Chief Economist, Ford of Europe, 1985-1994.

Research officer, National Institute of Economic and Social Research, 1981-1985.

Investment Analyst, Post Office Pension Fund (now HERMES), 1979-81.