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The independence of Monetary Policy Committee members is especially important given the high-profile nature of the role, where members of the Monetary Policy Committee are expected, via speeches and interviews with the press, to ensure that the process of monetary policy is accountable to the wider public.
We will follow previous practice and continue to use the criteria of professional competence and personal independence against which to consider appointees to the Monetary Policy Committee.
We are satisfied that Dr Martin Weale fulfils our two criteria for appointment to the Monetary Policy Committee of professional competence and personal independence. We wish him every success as a member of the MPC.
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