VI. Join the halves.

On the left there are ten halves of the sentences. On the right there are the other halves of the sentences, though not in the same order. You are required to make complete sentences.

1. On 6 May, 1997, the Chancellor of the Exchequer announced that the new Government was giving the Bank …	a) all aspects of the new arrangements will operate de facto.
2. The Government’s inflation target will be confirmed …	b) without prejudice to that objective, to support the Government’s economic policy, including its objectives for growth and employment.
3. Decisions on interest rate policy will be made by a Monetary Policy Committee (MPC) comprising …	c) a quarterly Inflation Report.
4. The treasury will have the right …	d) with the Governor having the casting vote if there is no majority.
5. The legislation will provide that if, in extreme circumstances, the national interest demands …	e) will be published no later than six weeks after the meeting.
6. Until the legislation comes into force …	f) the Government will have the power to give instructions to the Bank on interest rates for a limited period.
7. The Bank will continue to publish …	g) to be represented in a non-voting capacity and decisions on interest rates will be announced immediately.
8. The minutes of the meetings including a record of any vote, …	h) operational responsibility for setting interest rates and would introduce legislation as soon as possible.
9. The Bank’s monetary policy objective will be to deliver price stability (as defined by the Government’s inflation target) and, …	i) the Governor, the Deputy Governors, two members (who will have executive responsibility within the Bank) appointed by the Governor after consultation with the Chancellor and four members who will be recognized experts in the field appointed by the Chancellors.
10. The MPC will meet on a monthly basis and decisions will be made by a vote of the Committee on a one-person one-vote basis, …	j) in each Budget Statement.
11. The Government has also made proposals relating to Court, the Bank’s role in …	k) could be exercised only through subordinate legislation approved by Parliament.
12. The Government has noted that this power is in line with practice in other countries, and …	l) debt management, the foreign exchange reserves and has initiated a review of the Bank’s finances.

After you have completed your task, try to make up the text “Operational Independence of the Bank of England”.

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