Monetary Policy Committee: Difference between revisions

From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson
(Add links.)
imported>Doug Williamson
(Layout.)
Line 5: Line 5:
Monetary policy is central government or other policy designed to stimulate or otherwise affect economic activity by influencing money supply or interest rates.  
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), established in 1997 to be independent of the UK government.
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%.
A primary objective of the MPC is to meet the UK government's inflation target of 2%.
Line 25: Line 28:


For example, the Federal Open Market Committee of the Federal Reserve System.
For example, the Federal Open Market Committee of the Federal Reserve System.





Revision as of 13:38, 29 December 2021

(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


External link