Open letters between HM Treasury and Bank of England, June 2022
CPI inflation was 9.0% in April 2022, prompting an open letter from the Governor of the Bank of England to the Chancellor on 16 June 2022. The Chancellor replied to the Governor on 16 June 2022.
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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.