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The Monetary Policy Committee Five Years On - speech by Mervyn King
In a speech delivered to the Society of Business Economists in London today, Mervyn King, Deputy Governor of the Bank of England, poses four questions about the role and record of the MPC.
Published on
22 May 2002
"First, why give the power to decide interest rates to a committee rather than an individual? Second, does it matter that the MPC frequently disagrees about its decision? Third, has the Committee communicated clearly the reasons for its decisions? Fourth, does the MPC require reform?"
Press release