Summary
THE Monetary Policy Committee is the best thing to come out of the Treasury since Labour took over in 1997. But sometimes it looks as if the Chancellor does not accord the institution he was instrumental in creating due respect to use a current vogue government word.
The appointment process is haphazard, as freedom of information documents have shown. One of the current deputy governors of the Bank of England, Sir Andrew Large, was literally told hours before his first MPC meeting that he had been chosen and that he had to tender his resignation from Barclays Bank instantly.See the full content of this document
Extract
Musical Chairs for Old Lady
Now we learn that Marian Bell, an external MPC member who had sought a second term, is to leave Threadneedle Street. She has been asked to hang on at the Bank for an extra month because he...
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