Correspondence

Asset Purchase Facility (APF) ceiling, March 2020

The Monetary Policy Committee met on 19 March 2020 and agreed to implement a package of monetary policy stimulus measures 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 19 March 2020.

• From: HM Treasury and The Rt Hon Rishi Sunak MP
• Published: 19 March 2020

This was published under the 2019 to 2022 Johnson Conservative government

Documents

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England 19/03/2020

PDF, 2.23 MB, 2 pages

Letter from the Governor of the Bank of England to the Chancellor of the Exchequer 19/03/2020

PDF, 924 KB, 3 pages

Details

The letters exchanged between the Chancellor of the Exchequer and the Governor of the Bank of England that authorise the MPC to increase the ceiling on the scale of asset purchases through the APF financed by the issuance of central bank reserves.

Published 19 March 2020