Open letters between HM Treasury and Bank of England, November 2010
CPI inflation in October 2010 was 3.2 per cent, prompting an open letter from the Governor of the Bank of England to the Chancellor on 15 November 2010. The Chancellor replied to the Governor on 16 November 2010.
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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.