Bank of England’s FPC needs expanding, says UK parliamentary review

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The Bank of England's (BoE) Financial Policy Committee (FPC) should gain an extra external member to dilute the decision-making power held by central bank insiders, according to today's report by the UK Parliamentary Commission on Banking Standards.

The commission recommended that George Osborne, the UK Chancellor of the Exchequer, appoint an additional external member with the responsibility for taking a historical view of financial stability and systemic risk and informing colleagues of "histo

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