The interaction of the FPC and the MPC
Tamarah Shakir (tamarah.shakir@bankofengland.co.uk) and
Matthew Tong
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Tamarah Shakir: Bank of England
Bank of England Quarterly Bulletin, 2014, vol. 54, issue 4, 396-408
Abstract:
The Bank’s Financial Policy Committee (FPC) and Monetary Policy Committee (MPC) are separate committees, each with their own primary objectives, but with a common secondary objective. In addition, the policy actions of one committee can affect economic and financial variables of interest — and hence the policy stance — of the other. There are clear benefits from having two separate committees. But there is also considerable scope for, and benefits from, effective information sharing and dialogue between the FPC and MPC, and a shared understanding of each committee’s approach to policymaking.
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:boe:qbullt:0158
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