Composition
The Committee comprises:
- The Governor of the Bank
- The two Deputy Governors
- The Executive Director for Monetary Analysis and Statistics, the Bank's Chief Economist
- The Executive Director for Markets
- Four external members, appointed by the Chancellor of the Exchequer for a renewable three year term
Each member has one vote of equal weight, for which they can be held publicly accountable. The Governor chairs the meeting and is the last to cast his vote, acting as a casting vote in event of a tie. Representatives from the Treasury can attend the meeting, but only as non-voting observers.
Read more about this topic: Monetary Policy Committee
Famous quotes containing the word composition:
“There is singularly nothing that makes a difference a difference in beginning and in the middle and in ending except that each generation has something different at which they are all looking. By this I mean so simply that anybody knows it that composition is the difference which makes each and all of them then different from other generations and this is what makes everything different otherwise they are all alike and everybody knows it because everybody says it.”
—Gertrude Stein (1874–1946)
“Modern Western thought will pass into history and be incorporated in it, will have its influence and its place, just as our body will pass into the composition of grass, of sheep, of cutlets, and of men. We do not like that kind of immortality, but what is to be done about it?”
—Alexander Herzen (1812–1870)
“There was not a grain of poetry in the whole composition of Lord Fawn, and poetry was what her very soul craved;Mpoetry, together with houses, champagne, jewels, and admiration.”
—Anthony Trollope (1815–1882)