Monetary Policy Committee
(MPC).
1. UK - Bank of England.
Monetary policy is central government or other policy designed to stimulate or otherwise affect economic activity by influencing money supply or interest rates.
Responsibility for setting UK monetary policy - to achieve monetary stability - lies with the Bank of England's Monetary Policy Committee (MPC).
The MPC was established in 1997 to be independent of the UK government.
A primary objective of the MPC is to meet the UK government's inflation target of 2%.
The MPC normally meets eight times a year to set and announce the Official Bank Rate for the UK.
Additional special meetings are held when appropriate.
2. Eurosystem / ESCB.
The committee with similar responsibilities for the Eurosystem.
3. Federal Reserve System.
Committees with similar responsibilities in other jurisdictions, which may have different names.
For example, the Federal Open Market Committee of the Federal Reserve System.
See also
- Bank of England
- Central bank independence
- ESCB
- European Central Bank
- Eurosystem
- Federal Open Market Committee
- Federal Reserve System
- Financial stability
- Forward guidance
- Inflation
- Inflation target
- Monetary
- Monetary and Financial Conditions Index
- Monetary policy
- Monetary Policy Report
- Official Bank Rate
- Policy interest rate
- Unconventional monetary policy
