Monetary Policy Committee - How To Discuss
Monetary Policy Committee
For almost the first time as Chancellor, Gordon Brown set up a Monetary Policy Committee at the Bank of England to set interest rates.
Previously, this was decided between the chancellor and the bank manager.
The government no longer has control over interest rates, but continues to set inflation targets, and the Bank of England must then set interest rates at a level consistent with the achievement of the target.
The MPC consists of nine members, the Governor of the Bank of England, the Deputy Governor and the Second Deputy Governor, as well as six other members, including two from the Bank, who are responsible for monetary policy and market operations.
The other four members are recognized external experts.
The committee meets monthly and discusses and votes on whether or not to lower, raise or leave the interest rate as it is. The minutes of the meetings are published below.
Literal Meanings of Monetary Policy Committee
Monetary:
Meanings of Monetary:
Of or pertaining to money.
Policy:
Meanings of Policy:
A principle of conduct, conduct, etc., especially as formally expressed by the government or other competent authority, is deemed desirable or necessary.
Cautious or helpful behavior formerly associated with cunning.
Particularly political insight or (formerly) political cunning.
(now usually plural) The land of a large mansion.
Art of the political science of management.
One state, one policy.
The political system determined the civil administration.
Trick, strategy.
Induction of motorized objects.
Rule by law to put in order.
A document containing or confirming this contract.
daily lottery in the late 19th and early 20th century United States by numbers drawn from a lottery wheel (no plural).
Lottery with a group of numbers.
Sentences of Policy
The Communist Party follows a policy of restoring power to the workers.
Committee:
Meanings of Committee:
A group of one or more people who come together for a specific purpose, usually according to formal protocols.
A guardian is someone who is in charge of another person who is considered incapable of taking care of themselves.
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