The formulation of monetary policy at the Bank of England

Quarterly Bulletin 2001 Q4
Published on 01 December 2001

By Charles Bean, Executive Director for Monetary Analysis and Statistics and Chief Economist, and Nigel Jenkinson, Deputy Director for Monetary Analysis and Statistics.

This article describes the internal processes adopted by the Monetary Policy Committee and the Bank for the formulation of monetary policy. It covers the regular monthly policy round as well as the quarterly forecast round and the preparation of the accompanying Inflation Report.

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