Monetary Policy Committee

Definitions

Banking

  • noun a committee of the Bank of England, chaired by the Governor of the Bank, which has responsibility for setting interest rates independently of the British government. Its aim is to set rates with a view to keeping inflation at a certain level, and avoiding deflation.

Economics

  • noun a committee of the Bank of England, chaired by the governor of the bank, which has responsibility for setting interest rates independently of the UK government. The aim is to set rates with a view to keeping inflation at a certain level, and avoiding deflation.

Forex

  • The Bank of England's board consisting of eight member board and the BOE's Governor, which has been responsible for setting the UK's benchmark Official Bank rate since 1997 and keeping CPI inflation near target. The monetary Policy Committee also sets other aspects of monetary policy like quantitative easing via the asset Purchase Facility.
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