Bank officials promise MPs they will revisit MPC code of conduct

Lauren Fedor
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MPs have raised concerns about some of the MPC’s appointments
THE BANK of England will give “more serious consideration” to rules about membership of its monetary policy committee (MPC), a senior Bank official told MPs yesterday.

Sir Anthony Habgood, chairman of court at the Bank, told members of the influential Treasury Select Committee that given concerns expressed by committee chair Andrew Tyrie, the Bank would reconsider the MPC code of conduct.

Tyrie has raised questions over the MPC appointment of Gertjan Vlieghe, a former senior economist at the hedge fund Brevan Howard. Upon his appointment in July, Vlieghe said he would stay part of a long-term incentive plan at the fund, but has since agreed to be bought out.