Select Committee on Treasury Third Report


The Treasury Committee has established a practice of holding hearings with persons appointed to the Monetary Policy Committee (MPC) of the Bank of England and reporting on those hearings. This practice enhances the transparency of the appointment process and increases the level of information available to the public and to Parliament about the functioning of the MPC.

We have held a hearing with Sir John Gieve about his appointment to the MPC and as Deputy Governor of the Bank of England with responsibility for financial stability. We are satisfied that Sir John meets the criteria for appointment and wish him every success in his new roles.

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Prepared 14 February 2006