Main menu Home About Our people Monetary Policy Committee Monetary Policy Committee The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate. Related links Monetary Policy Committee FAQs Latest and upcoming MPC announcements Opens in a new window The Monetary Policy Committee (MPC) is made up of nine members – the Governor, the three Deputy Governors for Monetary Policy, Financial Stability and Markets and Banking, our Chief Economist and four external members appointed directly by the Chancellor. External members are appointed to make sure that the MPC benefits from thinking and expertise from outside of the Bank of England. A representative from HM Treasury also sits with the MPC at its meetings. The Treasury representative can discuss policy issues, but is not allowed to vote. They are there to make sure that the MPC is fully briefed on fiscal policy developments and other aspects of the Government's economic policies, and that the Chancellor is kept fully informed about monetary policy. Each member of the MPC has expertise in the field of economics and monetary policy. Members do not represent individual groups or areas – they are independent. MPC members serve fixed terms, after which they may be either replaced or reappointed. Monetary Policy Committee voting history (XLSX) The MPC and the Bank's Sterling Monetary Framework (PDF) OPENS IN A NEW WINDOW Communications guidance for MPC members (PDF) OPENS IN A NEW WINDOW MPC Conflicts of interest code of practice (PDF) OPENS IN A NEW WINDOW Upcoming MPC dates Members of the Committee Andrew Bailey Governor, Bank of England Ben Broadbent Deputy Governor, Monetary Policy Sir Jon Cunliffe Deputy Governor, Financial Stability Jonathan Haskel External member, Monetary Policy Committee Catherine L Mann External member, Monetary Policy Committee Huw Pill Chief Economist and Executive Director, Monetary Analysis Sir Dave Ramsden Deputy Governor, Markets & Banking Michael Saunders External member, Monetary Policy Committee Silvana Tenreyro External member, Monetary Policy Committee Back to top This page was last updated 20 October 2021 Give your feedback Was this page useful? Yes, it was useful No, it wasn't useful Follow us Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Museum Opens in a new window Opens in a new window Opens in a new window Browse topics Banknotes Careers Education Financial stability Gold Markets Monetary policy Payment and settlement Prudential regulation Research Statistics Useful links Contact us Subscribe to emails FAQs Freedom of Information CCBS KnowledgeBank The Archive Museum Bank of England Threadneedle Street, London, EC2R 8AH Switchboard: +44(0)20 3461 4444 Opens in a new window Enquiries: +44(0)20 3461 4878 Opens in a new window Bank of England Museum Bartholomew Lane, London, EC2R 8AH ©2021 Bank of England Accessibility statement Cookies Cymraeg Legal Privacy Sitemap