Summary
In this Report we follow our practice of reporting
on whether those appointed or re-appointed to the Monetary Policy
Committee (MPC) of the Bank of England fulfil our criteria for
appointments to the MPC of professional competence and personal
independence. The Report relates to the appointment of Paul Fisher
as Executive Director, Markets with effect from 1 March 2009.
We welcome the decision of the Governor of the Bank of England
to make appointments to the posts of Executive Directors of the
Bank which carry membership of the Monetary Policy Committee subject
to external advertisement, noting that this procedure was successfully
used for the first time in the case of the appointment of Paul
Fisher. We are satisfied that Paul Fisher meets our two criteria
for appointment to the Monetary Policy Committee of professional
competence and personal independence. We acknowledge Paul Fisher's
strong record in academia and the Bank of England, but note it
is important that he should widen his experience of financial
markets. We wish him every success as a member of that body.
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