![Monetary Policy Committee (MPC)](https://img-cdn.financeunlocked.com/headers-images/financeunlocked/4.jpg?ik-sdk-version=javascript-1.0.3)
Monetary Policy Committee (MPC)
The Bank of England’s Monetary Policy Committee (MPC) is responsible for making interest-rate decisions. It consists of nine members: the Governor; the three Deputy Governors for Monetary Policy, Financial Stability, and Markets and Banking; the Chief Economist; and four external members appointed by the Chancellor (UK finance minister). A Treasury (government) representative also sits in on MPC meetings but has no vote.