BoE appoints new deputy governor and MPC member

Sarah Breeden has been appointed as deputy governor of the Bank of England, starting on 1st November.

The King agreed, on the recommendation of the Chancellor and Prime Minister, to appoint Sarah Breeden as deputy governor with responsibility for financial stability.

Breeden is currently the Bank’s executive director for financial stability strategy and risk and will replace Jon Cunliffe who completes his term at the end of October.

She will sit on the Financial Policy Committee (and chair it in the Governor’s absence), the Monetary Policy Committee and the Prudential Regulation Committee.

The Bank says she will play a key role in providing a link between financial stability and monetary policy.

Sarah will also be a member of the Court of the Bank of England, Chair the Financial Market Infrastructure Board, and represent the Bank of England on a number of national and international bodies.

Governor of the Bank of England, Andrew Bailey, said: "I am delighted that Sarah has been appointed as deputy governor for financial stability. She will bring a wealth of financial and economic policy knowledge to the role, both domestically and internationally."

Sarah Breeden commented: "I am thrilled to have been appointed as deputy governor for financial stability. The Bank plays a critical role in supporting UK prosperity and having been committed to central banking and public service for my entire career, it will be an honour and a privilege to take up this role."