The members of the Bank of England who meet monthly to decide on interest rates and other policies with the purpose of price stability as well as growth and employment

This Monetary Policy Committee is made up of 8 members. Their main focus is to control inflation near the 2% target. If inflation falls below 1% or above 3%, the governor of the MPC has to submit a letter of explanation to the Chancellor of Exchequer.

 

 

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