By Marcus Leach

Peter Praet, the former chief of staff to Belgian's finance minister, has been appointed as the chief economist for the European Central Bank (ECB).

Mr Praet's appointment comes following the resignation of Juergen Stark, and will see the 62-year-old oversee ECB economists who calculate projections on which interest rate decisions for the 17-country eurozone are based.

He has been a member of the ECB's six-member board since June 2011.

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