Correspondence

Open letters between HM Treasury and Bank of England, December 2021

CPI inflation was 5.1% in November 2021, prompting an open letter from the Governor of the Bank of England to the Chancellor on 16 December 2021. The Chancellor replied to the Governor on 16 December 2021.

• From: HM Treasury and The Rt Hon Rishi Sunak MP
• Published: 16 December 2021

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 (16/12/2021)

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Letter from the Governor of the Bank of England to the Chancellor of the Exchequer (16/12/2021)

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Details

The remit for the Monetary Policy Committee (MPC) requires an exchange of open letters between the Governor of the Bank of England and the Chancellor of the Exchequer if inflation moves away from the target by more than 1 percentage point in either direction.

As set out in the remit, the open letters are published alongside the minutes of the first MPC meeting that follows the release of the CPI data, or within seven days of the publication of the data if the MPC meeting has already commenced.

Published 16 December 2021