Bank of England Act 1998 (c. 11)

Part II U.K. Monetary Policy

Monetary Policy Committee of the Bank U.K.

16 Functions of court of directors. U.K.

(1) The court of directors of the Bank shall keep the procedures followed by the Monetary Policy Committee under review.

(2) In particular, the court’s function under subsection (1) shall include determining whether the Committee has collected the regional, sectoral and other information necessary for the purposes of formulating monetary policy.

(3) The court’s function under subsection (1) shall stand delegated to the sub-committee constituted by section 3.