Summer changes expected on Bank's MPC committee

UK - Ian Plenderleith, a member of the Bank of England's monetary policy committee since its first meeting in June 1997, is to retire when his term finishes at the end of May.

The announcement by the Bank yesterday heralded what one former employee termed a "summer of musical chairs" at the nine-strong committee as the tenures of two other members - David Clementi and Sushil Wadhwani - are also due to be reviewed. Sir Edward George, the governor, is also due to retire next year.

Mr Plenderleith