Andrew Sentance

Andrew Sentance is an external member of the Monetary Policy Committee of the Bank of England, appointed by the Chancellor of the Exchequer in 2006. He is also a parttime Professorial Fellow at the University of Warwick, based at the Centre for the Study of Globalisation and Regionalisation, and a member of the Commission for Integrated Transport-which provides advice to the Government on transport policy issues. Before joining the Bank of England, Andrew was Chief Economist and Head of Environmental Affairs at British Airways. He joined British Airways in 1998 from London Business School (LBS), where he was Director of the Centre for Economic Forecasting. Before moving to LBS in 1994, he was Director of Economic Affairs at the Confederation of British Industry (CBI). In that capacity, he was a founder member of the Treasury’s Panel of Independent Forecasters-established in 1992 to provide advice to the Chancellor of the Exchequer. Andrew was educated at Cambridge University (Clare College) and the London School of Economics, where he gained his PhD. He holds visiting professorships at Cranfield University and Royal Holloway, University of London.

Papers Published in World Economics:

Challenging Times for UK Monetary Policy

Global economic developments have recently thrown up two major challenges for the setting of UK monetary policy. The recent global financial turmoil threatens to reinforce the slowdown in the UK and globally. But rising energy and commodity prices will push up inflation in the short term, and pose an upside risk to inflation expectations. In this article, Andrew Sentance-an external member of the Monetary Policy Committee (MPC)-argues that two issues will be critical to the future course of UK monetary policy: the course of the economic slowdown at home and abroad; and whether inflation expectations remain stable and well anchored. He argues that UK monetary policy has flexibility to adapt to changing circumstances and the data flow from the real economy will be very important in shaping future interest rate decisions. However, the MPC remains focused on its remit of keeping inflation on course to meet the 2% target for CPI inflation.

Read Full Paper >