Correspondence

Asset Purchase Facility (APF) ceiling, November 2020

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.

• From: HM Treasury and The Rt Hon Rishi Sunak MP
• Published: 5 November 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 05/11/2020

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Letter from the Chancellor of the Exchequer to the Governor of the Bank of England 05/11/2020 PDF

PDF, 77.3 KB, 2 pages

Letter from the Governor of the Bank of England to the Chancellor of the Exchequer 5/11/2020

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Letter from the Governor of the Bank of England to the Chancellor of the Exchequer 5/11/2020 PDF

PDF, 165 KB, 2 pages

Details

The Monetary Policy Committee met on 4 November 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 5 November 2020.

Published 5 November 2020