Monetary Policy Committee
The Monetary Policy Committee (MPC) is the voting committee of the http://www.babypips.com/forexpedia/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 [http://www.babypips.com/forexpedia/Mervyn_King 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).