Professor David Miles
David Miles is a British economist. He is a Visiting Professor at Imperial College London and former Chief UK Economist of Morgan Stanley (October 2004 to May 2009). He was appointed to the Bank of England’s interest rate-setting Monetary Policy Committee (MPC) from June 2009 to June 2012.
As an economist he has focused on the interaction between financial markets and the wider economy. In 2003 he produced a report for the Chancellor of the Exchequer to examine why the long-term fixed rate mortgage market is not as popular a product in the UK as in other countries. The report states: “A great many borrowers focus on the initial cost of debt and do not seem to consider carefully how those payments might change relative to their incomes”.
Miles predicted a substantial fall in real house prices in November 2006.
Miles was educated at the Ysgol Gruffydd Jones at St Clear’s, Carmarthenshire, the Bishop Gore School in Swansea, University College Oxford and the London School of Economics.