Correspondence

Monetary policy remit: Budget 2025

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

• From: HM Treasury
• Published: 26 November 2025

This was published under the 2024 to 2026 Starmer Labour government

Documents

Letter from Chancellor of the Exchequer to Govenor of the Bank of England

PDF, 142 KB, 6 pages

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Letter from Chancellor of the Exchequer to Govenor of the Bank of England

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This is the remit for the Monetary Policy Committee, which the Chancellor sets out in a letter to the Governor of the Bank of England. The Bank of England Act 1998 requires the Treasury to, at least once in every period of 12 months beginning on 1 June, specify how price stability should be defined and what the economic policy of the government consists of.

Published 26 November 2025