Professor Jonathan Haskel, who lectures in economics at Imperial College Business School, will replace Ian McCafferty as one of the four externally appointed members of the MPC for three years from 1 September.

Chancellor Philip Hammond said Haskel's ‘expertise in productivity and innovation will further sharpen the committee's understanding of the British economy.’

However, Rachel Reeves, chair of the BEIS select committee, said: ‘Eight of the nine-strong MPC are currently men and it is truly staggering that the Treasury has failed to appoint a woman to this role.

‘The fact that four women were shortlisted shows that there are plenty of capable and well qualified women, but yet again the top jobs seem to be reserved for men.’

The sole woman currently on the MPC is Silvana Tenreyro, who is professor in economics at the London School of Economics.

Nicky Morgan, who chairs the public accounts committee, said: ‘I am disappointed that the gender balance in the MPC will not be improved through this appointment.

‘While I welcome the fact that four women were shortlisted for this role, it is notable that the only shortlisted male candidate has been chosen.’

In a statement, the Treasury said: ‘The Treasury is committed to appointing a diverse range of people to public appointments, including at the Bank of England. The Treasury continues to work to attract the broadest range of suitable applicants for posts.’

The Treasury reported it had contacted 87 individuals about the position, of whom 44 were women.  There were 27 applications, eight of them women, and from these five candidates were interviewed.

The interview panel contained two women -  Clare Lombardelli and from the Treasury and Dame Kate Barker, external member to the MPC from 2001 to 2010 – as well as Richard Hughes from the Treasury. 

Report by Pat Sweet