Correspondence

Open letters between HM Treasury and Bank of England, February 2018

CPI inflation was 3.1% in November 2017, prompting an open letter from the Governor of the Bank of England to the Chancellor on 8 February 2018. The Chancellor replied to the Governor on 8 February 2018.

• From: HM Treasury and The Rt Hon Philip Hammond
• Published: 8 February 2018

This was published under the 2016 to 2019 May Conservative government

Documents

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England 08/02/2018

PDF, 96.3 KB, 2 pages

Letter from the Governor of the Bank of England to the Chancellor of the Exchequer 08/02/2018

PDF, 1.9 MB, 6 pages

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 first routine publication after the meeting of the MPC that follows the release of the CPI data.

Published 8 February 2018