*Loan,banking and credit>>>bank of england

How in dependant is the Bank of England Monetary panel ?

If they are really independant, how is it that the Chancelleor and all the media know in advance if the interest rate is going up or stay the same. Any views

Totally Independant -- until the Brilliant Gordon Brown tells them what to Do -- It,s called Banking with "Alice in Blunderland" Source(s): This Britain -- 2006

There has been the odd surprise - but basically anyone can look at the same data the panel use, and is likely to be able to guess from that, combined with their past actions, whether rates will change and in what direction.

Obviously they are not completely independent - they are all nominees of the Treasury, in effect - but their legal responsibility relates solely to the maintenance of certain levels of inflation. The key fact about their independence is that it excludes POLITICAL considerations, and is intended to stop the governing party attempting to win votes by manipulating interest rates in the run-up to an election.
Ask your son Gordon's Mother. He's supposed to be the chancellor of the exchequer!
In reality we do not know in advance whether the Bank of England Monetary Committee will raise or lower the interest rate - mostly its guesswork by both the Stock Exchange and the rest of the country. If you read newspaper speculation before the event, this is what you get - something along the lines of what will happen if the rate goes up - your mortgage will cost more etc.

Gordon Brown when he became Chancellor of the Exchequer moved immediately to free up the Bank of England so that it could operate independently from government and that is what happens. Believe.
Thinking allowed - mortgage paid off.