By Marcus Leach

The Chancellor, George Osborne today (Tuesday) announced the re-appointment of David Miles as an external member of the Monetary Policy Committee (MPC).

David Miles' second term on the MPC will begin on 01 June 2012, and end on 31 May 2015.

"David has been a very effective member of the MPC throughout his first term. His knowledge of the UK economy and background in the financial sector has proved invaluable through a challenging period," the Chancellor said.

"I am very glad that David will continue on the MPC for a further term, and am confident that his expertise will remain an asset."

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