New UK MPC member coy over policy stance

The Bank of England in London

The new external member of the Bank of England's Monetary Policy Committee (MPC), Ian McCafferty, was noncommittal about his policy intentions in a questionnaire released by the central bank today (September 11).

In advance of his Treasury Select Committee Appointment Hearing, McCafferty was probed on topics including quantitative easing (QE), the Funding for Lending scheme and UK inflation, and he remained equivocal towards each.

It was announced in July that McCafferty would replace outgoing M

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