Summary
APPOINTMENTS to the Bank of England's key interest-rate setting Monetary Policy Committee (MPC) are to be shaken up amid criticisms that selection decisions have been taken behind closed doors by Gordon Brown and his coterie of unaccountable advisers.
The news comes as the Bank's market research reveals the MPC's credibility is at a seven-year low with the public. Just days before he leaves the Treasury to become Prime Minister, and 10 years after he first launched a supposedly independent monetary policy committee, the Chancellor today finally admitted the process to appoint people to the nine-member committee is not up to scratch.See the full content of this document
Extract
Brown Pledges Rethink On Mpc Selection Rules
Under examination from MPs on the Treasury Select Committee...
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