King defends governance of FPC

king

Mervyn King, governor of the Bank of England, said on Tuesday the new interim Financial Policy Committee (FPC) should remain a committee of the Bank Court, not the government, to ensure the central bank retains its operational independence.

In response to questions from UK lawmakers at a Treasury select committee hearing in London, King said that while the FPC should be accountable to government over policy decisions, the Bank Court, its governing body, would ultimately need to oversee financial

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