The Monetary Policy Committee: An end-of-term evaluation

Kent Matthews

doi:10.1111/1468-0270.00188

The Monetary Policy Committee: An end-of-term evaluation

Research output: Journal Publication › Review article › peer-review

Abstract

The Bank of England's Monetary Policy Committee has controlled interest rates since June 1997. By comparing the MPC's record with that of the Shadow Monetary Policy Committee (SMPC) and evaluating the degree of volatility in the financial markets, this paper concludes that in many respects the MPC succeeded in its task. However, whilst the lack of 'groupthink' and the record compared with the SMPC are commendable, increased financial market volatility suggests the MPC could have done better.

Original language	English
Pages (from-to)	31-36
Number of pages	6
Journal	Economic Affairs
Volume	19
Issue number	4
DOIs	https://doi.org/10.1111/1468-0270.00188
Publication status	Published - Dec 1999
Externally published	Yes

ASJC Scopus subject areas

Geography, Planning and Development
Development
Aerospace Engineering

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1111/1468-0270.00188

Cite this

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abstract = "The Bank of England's Monetary Policy Committee has controlled interest rates since June 1997. By comparing the MPC's record with that of the Shadow Monetary Policy Committee (SMPC) and evaluating the degree of volatility in the financial markets, this paper concludes that in many respects the MPC succeeded in its task. However, whilst the lack of 'groupthink' and the record compared with the SMPC are commendable, increased financial market volatility suggests the MPC could have done better.",

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AB - The Bank of England's Monetary Policy Committee has controlled interest rates since June 1997. By comparing the MPC's record with that of the Shadow Monetary Policy Committee (SMPC) and evaluating the degree of volatility in the financial markets, this paper concludes that in many respects the MPC succeeded in its task. However, whilst the lack of 'groupthink' and the record compared with the SMPC are commendable, increased financial market volatility suggests the MPC could have done better.

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The Monetary Policy Committee: An end-of-term evaluation

Abstract

ASJC Scopus subject areas

UN SDGs

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