UK names former BoE policymaker Miles to budget office

LONDON - British finance minister Rishi Sunak has nominated David Miles, a former Bank of England interest rate-setter, to join the Office for Budget Responsibility, the country's fiscal watchdog and forecaster.

If approved by parliament's Treasury Committee, Miles will start a five-year term in the role on Jan. 1 to replace Charles Bean who is stepping down, the finance ministry said on Friday.