Bank of England Governor questioned by MPs on interest rate policy
14 November 2022
The Treasury Committee will question the Bank of England Governor and members of the Monetary Policy Committee (MPC) at 2.15pm on Wednesday 16 November.
- Watch ParliamentTV: Bank of England Monetary Policy Reports
- Inquiry: Bank of England Monetary Policy Reports
- Treasury Committee
On 2 November, the MPC voted to increase interest rates by 0.75 percentage points to 3 percent. This was the eighth consecutive increase and largest of all the most recent rate rises.
The Bank’s previous decisions on interest rates, quantitative easing and tightening and the underlying reasons behind the Bank’s latest decision to increase the rate are likely to be scrutinised at the session. MPs may also examine the Bank’s communications around the rate rise, and in particular the Governor’s prediction that the Bank rate is likely to peak lower than that currently priced into financial markets.
Purpose of session
The Committee is likely to discuss the future path of inflation and the UK’s economic outlook, which the Bank’s latest Monetary Policy Report describes as “very challenging”. Witnesses’ views are also likely to be asked to share their analysis of the roots of the recent financial instability in the Government bond market, and the implications for future monetary policy.
Wednesday 16 November, Grimond Room, Portcullis House, Houses of Parliament
- Andrew Bailey, Governor, Bank of England
- Ben Broadbent, Deputy Governor for Monetary Policy, Bank of England
- Swati Dhingra, External Member, Monetary Policy Committee, Bank of England
- Catherine Mann, External Member, Monetary Policy Committee, Bank of England