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Economic Calendar Terms

MPC Vote Unchanged

Bank of England
Threadneedle Street
London EC2R 8AH
44–0–20–7601–4878

Interest rates are set by the Bank’s Monetary Policy Committee. The MPC sets and interest rate it judges will enable the inflation target to be met. The Bank's Monetary Policy Committee (MPC) is made up of nine members – the Governor, the two Deputy Governors, the Bank's Chief Economist, the Executive Director for Markets and four external members appointed directly by the Chancellor. The appointment of external members is designed to ensure that the MPC benefits from thinking and expertise in addition to that gained inside the Bank of England.