To help prevent unnecessary speculation about MPC interest-rate
decisions, members of the Monetary Policy Committee have a 'purdah'
guideline. This requires that for a limited time each month
they avoid giving speeches and speaking to the news media or
other interests, on or off the record, about monetary and fiscal
policy and the conjuncture, or anything else which could be
considered relevant to their interest rate decisions or the
forecast.
- The limit is for a period of eight days from the Friday
before the MPC meeting to the Friday immediately after the
announcement.
- The period is inclusive of both Fridays, running from midnight
to midnight.
-
In addition, in the four months when the Inflation Report
publication and press conference take place (February, May,
August and November) the purdah extends to midnight at the
end of the day of publication.
-
The guideline also precludes publication during purdah
of any interview given beforehand.
-
Other senior executives within the Bank also generally
adhere to the guideline