Osborne urged to create 'super committee' from FPC and MPC

The BBC's Robert Peston has suggested Osborne's carve-up of the Bank of England - which will see the new FPC sit alongside the MPC - is a "sub-optimal" solution because there is no real difference between delivering financial stability and monetary stability. Drawing on a speech from Bank of England deputy governor Paul Tucker, Peston said changes in interest rates can be an important driver of "risk premia", in turn impacting the macro-economic climate. So rather than separating monetary and financial policy, the Chancellor should consider bringing the two together in the form of a s...