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Formal meeting (oral evidence session): Bank of England Monetary Policy Reports

Treasury Committee
Bank of England Monetary Policy Reports

Thursday 9 February 2023

Start times: 9:30am (private) 9:45am (public)

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MPs ask: is the Bank of England behind the curve on inflation?

The Treasury Committee will question the Governor of the Bank of England and members of the Monetary Policy Committee (MPC) on last week’s interest rate rise at 9.45am on Thursday 9 February.

The cross-party Committee is likely to discuss the Bank’s record on combatting the outbreak of double-digit inflation, and whether we have reached its peak.

Given the Bank forecast in February 2021 that inflation would not rise beyond its two per cent target, and that it continued to describe the situation as “transitory” until February 2022, the Committee is likely to explore whether the Bank was – and remains – behind the curve.

Likely areas of questioning

MPs are likely to explore the outlook, risks and expectations for inflation, and the likelihood of future interest rate rises, as well as exploring dissenting views on interest rate policy within the MPC and the risks of over-tightening.

Other likely topics for discussion include how energy and commodity prices are impacting inflation, the Bank’s forecast of a UK recession and slow recovery, and the MPC’s approach to the sale of the £875bn it held in Government bonds, known as quantitative tightening.

Meeting details

At 9:45am: Oral evidence
Work Bank of England Monetary Policy Reports (Regular evidence sessions)
Governor at Bank of England
Chief Economist at Bank of England
External Member at Monetary Policy Committee
External Member at Monetary Policy Committee


The Grimond Room, Portcullis House

How to attend