The MPC process in light of the Warsh Review

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The Warsh Review1 is leading to some sweeping changes in the procedures of the UK’s Monetary Policy Committee (MPC). The number of meetings will be reduced in future to eight per year. In my view, there might have been a case for a more radical reduction to six per year. The timing of the MPC meetings has been altered to allow for a simultaneous provision of the decision, the supporting minutes and, in the relevant months, the Inflation Report (IR), plus associated press conference, all on the

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