Role as member of the MPC
10. As a Deputy Governor of the Bank of England,
Sir John Gieve will also become a member of the MPC. In view of
the economic and political importance of the MPC, there is a considerable
degree of informed interest in both the general stance of its
members and their individual positions at meetings. MPC members
play a key role in representing that body to a wide range of audiences
around the country and in gathering views from market participants.
11. We therefore questioned Sir John about his general
stance on interest rate decisions and his approach to such matters
as inflation expectations and the impact of high oil prices.
Conclusions
12. Sir John Gieve brings relevant experience
to the position of Deputy Governor, including from his spell as
Permanent Secretary in the Home Office. He has worked extensively
on financial stability and regulatory issues during his time at
the Treasury, which will be relevant to his responsibilities at
the Bank of England. We are satisfied that Sir John fulfils the
criteria for appointment. We wish him every success in his new
roles as Deputy Governor of the Bank of England and as a member
of the MPC.
3 HM Treasury press notice, Bank of England appointments,
17 October 2005 Back