The appointment of Professor Tenreyro will be scrutinised by economists for any hints as to the way she may vote in upcoming meetings.
The MPC still has a vacancy as Charlotte Hogg, who replaced Minouche Shafik as a deputy governor of the Bank, resigned almost immediately following her appointment earlier this year after she failed to properly declare her brother’s job at Barclays.
Chief economist Andy Haldane’s post on the committee was re-confirmed last week as his initial three-year appointment had run its course.
Meanwhile Sir Christopher Kelly has been appointed as a non-executive member of the Office for Budget Responsibility.
He will replace Dame Kate Barker on the panel which oversees the organisation, which makes official economic forecasts and estimates the effect of government tax and spending plans.