Governor of the Bank of England to discuss interest rates amid ongoing conflict in Iran
Members of the Bank of England’s Monetary Policy Committee (MPC), including the Governor, will give evidence to the Treasury Committee next Tuesday afternoon.
The session will focus on July’s Monetary Policy Report, and the MPC’s most recent decision to hold the Bank Rate at 3.75%.
The Governor of the Bank of England will be joined by the Deputy Governor for Markets and Banking, Sir Dave Ramsden, as well as Megan Greene and Professor Alan Taylor who are both External Members of the MPC.
In July, Megan Greene voted to increase the Bank Rate by 0.25% while the other three witnesses voted to hold rates.
MPs are likely to question witnesses on the potential inflationary impact of the ongoing war in Iran and how the MPC considers recent developments in AI.