1.64 Monetary policy should be the primary tool for responding to changes in the economic outlook, to ensure that inflation remains on track to meet the 2 per cent inflation target in the medium term. Monetary policy has a critical role in supporting the economy as the Government delivers on its commitment to necessary fiscal consolidation. The credibility of the Government's fiscal plan allows the independent Monetary Policy Committee (MPC) to keep Bank Rate lower than it would otherwise have been and to deliver additional monetary stimulus through quantitative easing.