Session 2007-08, 15 November 2007: For Immediate Release
Treasury Committee to take evidence on November Inflation Report 2007
The Treasury Committee will take evidence from members of the Monetary Policy Committee of the Bank of England in connection with the Treasury Committees ongoing scrutiny of the Bank of Englands inflation reports as follows:
Thursday 29 November 2007
Mervyn King, Governor of the Bank of England
Rachel Lomax, Deputy Governor of the Bank of England (Monetary analysis)
Charlie Bean, Executive Director and Chief Economist, Bank of England
Professor Tim Besley, External member of the Monetary Policy Committee
Professor David Blanchflower, External member of the Monetary Policy Committee
The Treasury Committee expects to take further evidence from the Bank of England on its inquiry into Financial Stability and Transparency on a subsequent occasion, and will not specifically be considering matters relating to that inquiry during this session.
The meeting is scheduled to take place in Portcullis House. Those wishing to attend the meetings should check the venue by contacting the House of Commons Public Information Office on 020 7219 4272 on the day before the hearing.
1. The Inflation Report is produced on a quarterly basis by Bank of England staff under the guidance of the members of the Monetary Policy Committee. The report is designed to provide a comprehensive and forward-looking framework for discussion among MPC members and to allow the Bank to share its thinking. To further enhance transparency and understanding around the Bank's decisions on monetary policy, the Treasury Committee questions the Governor of the Bank and other MPC members on their recent decisions and on the outlook for monetary policy going forward.
2. The Inflation Report is available from:
www.bankofengland.co.uk. Evidence taken by the Treasury Committee on previous inflation reports and its hearings on appointments to the Monetary Policy Committee is available on the Committee's homepage:
3. The Treasury Committee has established a practice of holding hearings with persons appointed to the Monetary Policy Committee (MPC) of the Bank of England and reporting on those hearings. This practice enhances the transparency of the appointment process and increases the level of information available to the public and to Parliament about the functioning of the MPC.
4. Committee Membership is as follows: Rt Hon John McFall (Chairman), Nick Ainger, Mr Graham Brady, Mr Colin Breed, Mr Jim Cousins, Mr Philip Dunne, Mr Michael Fallon (Sub-Committee Chairman), Ms Sally Keeble, Mr Andrew Love, Mr George Mudie, Mr Si´n Simon, John Thurso, Mr Mark Todd, Peter Viggers.