Open letters between HM Treasury and Bank of England, February 2011
CPI inflation in January 2011 rose to 4 per cent, prompting an open letter from the Governor of the Bank of England to the Chancellor on 14 February 2011. The Chancellor replied to the Governor on 15 February 2011.
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The remit for the Monetary Policy Committee continues to require 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 one percentage point in either direction.