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Taylor, who will replace current external member Jonathan Haskel,
is currently Professor of International and Public Affairs at
Columbia University, New York.
Taylor has also served as a senior advisor at Morgan Stanley,
PIMCO and McKinsey.
Haskel joined the MPC in September 2018 and will soon complete
his second three-year term, the maximum for an external member
of the committee.
One of the most hawkish members of the MPC, Haskel was in the
minority of 4 out of 9 members who voted to keep rates on hold
for its Aug. 1 interest rate announcement.
The BoE cut Bank Rate to 5.0% from a 16-year high of 5.25%.
While inflation did fall back to the BoE's 2% target in May and
June, Britain has suffered a bigger rise in consumer prices over
the last few years than most other countries in Western Europe.
(Reporting by Andy Bruce and Sachin Ravikumar; editing by
William James)
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