The Bank of England has confirmed Blythe will join the organisation as interim executive director, effective from late March. He will cover for Bank of England comms head Jenny Scott, who is on adoption leave for a year.
Blythe has worked with the BBC since 1988, most recently as the BBC business correspondent.
He has also presented Business Today on BBC News 24, and was a reporter on The Money Programme and a business correspondent on Radio 4's Today programme.
Scott is also a former BBC staffer, having joined the broadcaster as economics correspondent in 2000 from the Bank of England.
She rejoined the Bank in 2008.