Members of the Monetary Policy Committee (MPC) and Financial Policy Committee (FPC) give evidence on a regular basis at hearings of the House of Commons’ Treasury Select Committee. Hearings cover a range of topics including evidence on the Bank’s latest Inflation Report and the Financial Stability Report.
The Treasury Committee holds appointment hearings for new MPC and FPC members in order to satisfy itself that they meet the criteria of professional competence and independence.
MPC members produce a short annual report ahead of Treasury Committee hearings. In their reports, each MPC member reviews and explains their voting record over the past year, their views on the economic and inflation outlook, and details of their speeches, regional visits and other activities.
Bank witnesses are sometimes asked to give evidence to other Parliamentary committees, including the House of Lords’ Economic Affairs Committee and the Parliamentary Committee on Banking Standards.
The Reports written by the Treasury Committee together with transcripts of witnesses’ oral evidence are available on the UK Parliament website.