1.  We welcome the Chancellor of the Exchequer's explicit recognition of the value of pre-commencement hearings for those reappointed to the Monetary Policy Committee and his broader commitment to seek to give three months' notice of appointments to the Monetary Policy Committee. (Paragraph 6)

2.  We are satisfied that Dr Andrew Sentance continues to meet the criteria by which we assess those appointed to the MPC—namely, personal independence and professional competence—and we wish him success in his continuing role. (Paragraph 12)