Reflections on Monetary Policy after 25 Years of the MPC

The Bank of England was given operational independence by the UK Parliament in 1997. The key feature of this independence is that the Bank's Monetary Policy Committee has sole responsibility for setting interest rates to achieve the Government's inflation target. Featuring contributions from leading academics and practitioners, Reflections on Monetary Policy after twenty-five years of the MPC assesses and reflects on this independence, particularly in relation to the activities of the Monet...