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

Research output: Journal PublicationReview articlepeer-review


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 languageEnglish
Pages (from-to)31-36
Number of pages6
JournalEconomic Affairs
Issue number4
Publication statusPublished - Dec 1999
Externally publishedYes

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Development
  • Aerospace Engineering


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