Talk:Monetary Policy Committee (United Kingdom)

confusion
Hi, I was just reading this article and had some questions. Thanks for any help resolving these confusions. 018 (talk) 18:05, 18 April 2010 (UTC)
 * 1) The article states, "the Committee was designed to be independent of political interference" and then shortly thereafter states, "Each member has one vote, which they can expected to be held to account for." But accountability is a very important political tool. I would translate this as, "It is supposed to be that each member operates without pressure" and, "pressure can be applied because of an accountability measure." At the very least, wouldn't it make sense to discuss this contradiction? There might be an academic article on judging independence of an national bank.
 * 2) This article has about 35 references and about 24 are published by the Bank of England itself. Is this not considered self published? At the very least, aren't these primary sources? Could more of these be found in secondary sources?
 * "The Committee was designed to be independent of political interference" was (supposed to, I grant you) reflect the opening paragraphs of the History section, which explains how, in pre-MPC days, the interest rates were set by people who were first and foremost politicians. They did (or merely ran the risk of, depending on your POV) make decisions that were not in the country's best interests merely to save their own political careers. Thus your second inference (about having pressure) is the correct on. Should I clarify what I meant?


 * Yes, it has a lot of self-published sources. This is something I did give some thought to. However, I do feel it meets all five of the WP:SELFPUB criteria; if you can provide specific items that you would prefer additional secondary references I shall by all means look. The MPC has only been around for 13 years, unfortunately, which limits reporting in the very best sources (particularly dead-tree). - Jarry1250 [Humorous? Discuss.] 18:26, 18 April 2010 (UTC)


 * Jarry1250, I didn't know about WP:SELFPUB, thanks for pointing that out to me! There are two possible objections to that, both marginal. The first is the paragraph
 * "The result was almost a decade of unprecedented stability in prices, though even the Bank itself does not consider this entirely due to the careful use of interest rates. In an almost ten year period, inflation did not once stray outside of one percentage point of the target, despite predictions that it would be forty or more percent of the time.[3] A 2007 report produced for the Treasury Committee also noted that having the MPC independent of the government 'has reduced the scope for short-term political considerations to enter into the determination of interest rates.'[3] The creation of the MPC, it says, brought with it 'an immediate credibility gain'.[3]"
 * Some of this material might be perceived to violate, SELFPUB's rule that "the material is not unduly self-serving."
 * The second is, "the article is not based primarily on such sources." Again, I don't think either of these objections is so huge that I'm going to start deleting information from the article, but but I think both of these are borderline. I'd think, at the least, finding secondary sources for the paragraph I quoted would be worth it.
 * Finally, I appreciate now (after reading the article and not just the lead) that there was a change. But this is not apparent in the lead, perhaps mentioning that the committee is relatively new and that it was designed to decrease the political pressure is worth putting in the lead rather than just that it was designed to exist outside of political pressure. 018 (talk) 20:01, 18 April 2010 (UTC)

Peer review
Should we subject this article to peer review? Lbertolotti (talk) 15:18, 12 August 2015 (UTC)
 * Would the Purpose of a peer review to check the entry's 'good article' status?18:35, 8 February 2016 (UTC)

Yes, and it may help with improving the article.Lbertolotti (talk) 13:12, 2 May 2016 (UTC)

Dr. Farvaque's comment on this article
Dr. Farvaque has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:

"The article should refer immediately (in the title / keywords) to the Bank of England Other Monetary Policy Committees exist, and the title of the article could thus be misleading"

We hope Wikipedians on this talk page can take advantage of these comments and improve the quality of the article accordingly.

We believe Dr. Farvaque has expertise on the topic of this article, since he has published relevant scholarly research:


 * Reference : Etienne Farvaque & Norimichi Matsueda & Pierre-Guillaume Meon, 2008. "How monetary policy committees impact the volatility of policy rates," Working Papers CEB 08-026.RS, ULB -- Universite Libre de Bruxelles.

ExpertIdeasBot (talk) 19:08, 26 July 2016 (UTC)

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