a very annoying catch phrase, normally said by immature freshmen, that is used to down-play the fact that the speaker of the phrase isn't as good at something as they claim they are. It is also used to annoy the crap out of everyone around them because the speaker could not think of something more intelligent to say.
In the European Union, the EUROPEAN CENTRAL BANK (ECB) is responsible for monetary policy in general and for setting interest rates in particular for member countries of the ECONOMIC AND MONETARY UNION (EMU). The ECB has committed itself to a âtarget'for INFLATION of no more than 2% per annum.
Whereas the Monetary Policy Committee (MPC) is responsible for making interest rate decisions based on changes in the macroeconomic environment, the FPC is more of a regulatory body for the City.he committee, housed in the Bank of England (BoE) and chaired by the Bank's governor Mervyn King, is viewed as a counterpart to the monetary policy committee, which sets interest rates. The FPC will be part of the BoE and staffed with six BoE executives, the head of the new regulator and four external members.