Gordon Brown has finally moved to fill the two vacant slots on the Bank of England's interest-rate setting Monetary Policy Committee, appointing Dr Andrew Sentance from British Airways and Professor Tim Besley at the London School of Economics to the part-time positions.

The appointments will bring to an end more than four months of uncertainty after Richard Lambert left the MPC to take the helm at the lobby group for British business, the CBI. They also follow the tragic death earlier last month of respected Committee member David Walton.

Dr Sentance - a member of The Times' own MPC - is currently the chief economist and head of environmental affairs at British Airways, and has acted as an adviser to the airline on global economic developments, corporate strategy and regulatory issues.

In his most recent submission to The Times' MPC, Dr Sentance argued that rates should be left on hold and cautioned the Bank against introducing a rate rise in the near term.

Dr Sentance, whose hobbies according to Who's Who include playing the piano, guitar and organ, was a founder member of the Treasury's Panel of Independent Forecasters and provided advice to the Chancellor of the Exchequor under the last Government.

He starts his new role as from the beginning of October.

Prof Besley is currently professor of economics and political science at the LSE and a research fellow at the Instititute of Fiscal Studies.

Prof Besley, who lists his recreations for Who's Who as squash and playing the violin, is also a research fellow at the Centre for European Policy Research.

With Mr Besley starting the job at the beginning of September, this means that the MPC will remain a team of seven for the August decision on what to do to interest rates, which have been on hold since that month last year when they were raised to the current 4.5 per cent.

Howard Archer, the chief UK and European economist at Global Insight, noted that: "While we know nothing of Timothy Besley's current views on interest rates, the indications from his voting pattern as one of The Times shadow MPC members is that Andrew Sentance could be more of a dove than a hawk.

"He was in favour of a rate cut in March and April, and although he was quoted at the time of the July meeting as saying that interest rates may need to rise at some point, he was clearly against an imminent hike at least."

It is not yet known what implications joining the MPC will have for the two men's current jobs, although the Bank is likely to expect them to contribute about 10 to 15 days a month to the Committee. A spokesman for the Treasury said their working practices and conditions were still being finalised.

Click here to read Andrew Ellson on the implications for interest rates

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