Professor Jonathan Haskel has been appointed as an external member to the central bank's nine-strong rate-setting committee
Haskel will replace outgoing member Ian McCafferty and will begin his three-year term on 1 September.
Here's what BOE governor Mark Carney had to say about the appointment:
I am very much looking forward to working with him. His broad academic experience and the depth of his knowledge on productivity and innovation will be hugely valuable to the committee as we seek to promote the good of the people of the United Kingdom by maintaining monetary stability.
I would also like to thank Ian McCafferty for his service to the Monetary Policy Committee over the past six years. Our discussions have benefitted greatly from Ian's profound knowledge of the UK economy and his carefully argued views on monetary policy.
