Correspondence

Monetary policy remit: Budget 2018

The Chancellor’s letter to the Bank of England setting the remit for the Monetary Policy Committee.

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The Bank of England Act 1998 requires the Treasury to specify at least once every 12 months how price stability is to be defined and the government’s economic policy objectives.

Following the move to one fiscal event each year, held in the autumn, the annual Monetary Policy Committee remit for the Bank will be issued alongside autumn Budgets.

This is the monetary policy remit, which the Chancellor specifies in a letter to the Governor of the Bank of England.

Published 29 October 2018