Treasury Committee press notice no.74

Session 2006-07, 8 August 2007

Treasury Committee to take evidence on August Inflation Report 2007

The Treasury Committee will take evidence from the Monetary Policy Committee of the Bank of England in connection with its ongoing scrutiny of the Bank of England’s inflation reports as follows:

The August 2007 Inflation Report
Thursday 20 September 2007
9.45 am
Mervyn King, Governor of the Bank of England
Sir John Gieve, Deputy Governor of the Bank of England (financial stability)
Kate Barker, External member of the Monetary Policy Committee
Professor Tim Besley, External Member of the Monetary Policy Committee
Dr Andrew Sentance, External Member of the Monetary Policy Committee

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: 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), Mr Graham Brady, Mr Colin Breed, Jim Cousins, Angela Eagle, Mr Philip Dunne, Mr Michael Fallon (Sub-Committee Chairman), Ms Sally Keeble, Mr Andrew Love, Mr George Mudie, Mr Siôn Simon, John Thurso, Mr Mark Todd, Peter Viggers.