The MPC consists of the Governor as Chairperson, the two Deputy Governors, two Board Directors, and three external persons having recognised experience in the field of economics, banking or finance, one of whom is a Professor of Monetary Economics at the University of Frankfurt, Germany.
The MPC also benefits from the wide-ranging experience of an Adviser, a former Governor of the Bank of Argentina and the current Director of the Centre for Central Banking Studies of the Bank of England. In the current setup, there is a possibility that the Bank’s executives may find themselves in a minority position in the MPC.