Plenderleith, Ian, (born 27 Sept. 1943), Deputy Governor and Member, Monetary Policy Committee, South African Reserve Bank, 2003–05; Executive Director, 1994–2002, Member, Monetary Policy Committee, 1997–2002, Bank of England; Chairman: BH Macro Ltd, since 2007; Morgan Stanley International Ltd, since 2014 (non-executive Director, since 2011)

2007 ◽  
Keyword(s):  
Monetary Policy ◽  
South African ◽  
Executive Director ◽  
Monetary Policy Committee ◽  
Reserve Bank ◽  
Bank Of England ◽  
Policy Committee

The UK economy

1999 ◽  
Vol 169 ◽  
pp. 8-30
Author(s):  
Richard Kneller ◽  
Garry Young
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Open Letter ◽  
Monetary Policy Committee ◽  
Bank Of England ◽  
The Uk ◽  
New Framework ◽  
Policy Committee

It is now just over two years since the new framework for monetary policy was announced and operational responsibility for the setting of interest rates was devolved to the independent Monetary Policy Committee (MPC) at the Bank of England. A key component of the new arrangements is their accountability. One of the ways in which this is meant to be achieved is by the ‘open letter’ system, whereby the Governor is to write to the Chancellor whenever inflation is one percentage point higher or lower than the target. It is remarkable that no open letters have yet had to be written.

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