Monetary Policy Committee
From The Free Forex Encyclopedia
The Monetary Policy Committee (MPC) is the voting committee of the Bank of England that decides the official benchmark interest rate of the U.K. They convene for two and a half days every month.
The committee has 9 voting members, including the Bank of England Governor Mervyn King (as of 2011). The main responsibility of the MPC is to keep inflation as close as possible to their target (2% as of 2011).