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  • 6 - The MPC Remit at 25: Growing Pains?

  • from III - Targets and Instruments
  • Edited by Sean Holly, University of Cambridge, Michael McMahon, University of Oxford, Stephen Millard, National Institute of Economic and Social Research, Anna Watson, University of Cambridge
  • Book:
    Reflections on Monetary Policy after 25 Years of the MPC
    Published online:
    14 November 2024
    Print publication:
    21 November 2024, pp 79-88

  • Summary

    This chapter first provides a brief review of the first remit given to the MPC in 1997 and why it would come to play such a key role in defining the monetary policy framework in the early years of the MPC.There is also a discussion of why the same concept has worked less well in other contexts, drawing on the UK’s attempts to introduce a remit for the IMF and pointing out the absence of a financial stability remit to match that for monetary policy.