Staff present outlook and strategy. MPS discusses risks and external messages. MPC discusses strategy and tactics. MPC decides on strategy and tactics. MPC finalises risks and external messages. MPC decides level and direction of policy instrument. MPS release. Information pooling. MPC deliberations. MPC decision making.
(Staff as presenters)  (Staff as advisers)  (Staff not present)  We begin with information pooling, which flows through to MPC deliberations, and culminates in the final decision making meeting. As you can see, the policy-setting framework is highly collaborative and deliberate.