UK’s Treasury Committee raises concerns over FPC accountability

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The Bank of England

The current consensus-based model may mean the Bank of England's (BoE) Financial Policy Committee (FPC) is not being adequately held to account, members of the UK's Treasury Committee warned today (July 14).

In the three years of its existence the FPC has so far never failed to reach consensus. While the committee publishes a "record" of each meeting, MPs were concerned that any differences of opinion could be hidden from public view.

Every year the UK chancellor of the exchequer sets out the FP

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