Correspondence
Asset Purchase Facility (APF) ceiling, June 2020
The Monetary Policy Committee met on 17 June 2020 and agreed that a further easing of monetary policy is warranted which required an increase in the asset purchase facility limit. This prompted an exchange of letters between the Governor of the Bank of England and the Chancellor on 18 June 2020.
Documents
Details
The letters exchanged between the Chancellor of the Exchequer and the Governor of the Bank of England confirm the increase in the limit of assets that the APF is authorised to purchase, financed by the issuance of central bank reserves.