Open letters between HM Treasury and Bank of England, December 2022

CPI inflation was 11.1% in November 2022, prompting an open letter from the Governor of the Bank of England to the Chancellor on 15 December 2022. The Chancellor replied to the Governor on 15 December 2022.

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England (15/12/2022)

Letter from the Governor of the Bank of England to the Chancellor of the Exchequer (15/12/2022)

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.