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Title
The MPC ten years on.
Abstract
The article presents the speech delivered on May 2, 2007 to the Society of Business Economists, which discusses the improvement on Great Britain's economic performance over the past ten years and the role of Monetary Policy Committee (MPC) in achieving it. The monetary policy regime is based on an explicit target for inflation, floating exchange rate, and clear institutional arrangements for decisions on interest rate which are to be decided by MPC's majority vote.