Monetary Policy Committee


Monetary Policy Committee
/ˌmʌnɪt(ə)ri 'pɒlɪsi kəˌmɪti/ noun
a committee of the Bank of England, chaired by the Governor of the Bank, which has responsibility for setting interest rates independently of the British government. Its aim is to set rates with a view to keeping inflation at a certain level, and avoiding deflation.
Abbreviation MPC
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‘Its Monetary Policy Committee (MPC) gets an opportunity to reveal whether it is still affected by the Christmas spirit when it meets this Wednesday’ [The Times]
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‘The Fed next meets to consider interest rates on February 3 and 4, just one day ahead of the February MPC meeting’ [The Times]

Dictionary of banking and finance. 2015.

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