LONDON, Aug 16 Reuters Alan Taylor, an economics professor with a focus on international economics and financial crises, has been appointed to the Bank of England39;s Monetary Policy Committee, Britain39;s finance ministry said on Friday.

Britishborn Taylor is currently a professor at Columbia University in New York and alongside his academic career has worked as a senior advisor at Morgan Stanley, PIMCO and McKinsey.

Taylor will start at the BoE on Sept. 2 and succeeds Jonathan Haskel, a professor of economics at London39;s Imperial College Business School, who will soon complete his second threeyear term, the maximum for an external MPC member.

One of the most hawkish members of the MPC, Haskel was in the minority of four out of nine members who voted to keep rates on hold for its Aug. 1 interest rate announcement, rather than cutting it from a 16year high of 5.25.

Professor Alan Taylor39;s substantial experience in both the financial sector and academia will bring valuable expertise to the Monetary Policy Committee, said finance minister Rachel Reeves, who made the appointment.

British inflation returned to its 2 target in May after reaching a 41year high of 11.1 in October 2022, but rose to 2.2 in July and the BoE expects it to reach 2.75 toward the end of this year.

Taylor was born in the northern English city of Wakefield and studied at the University of Cambridge before receiving a doctorate in economics from Harvard University.

In his academic work,…