Correspondence
Open letters between HM Treasury and Bank of England, June 2023
CPI inflation was 8.7% in May 2023, prompting an open letter from the Governor of the Bank of England to the Chancellor on 22 June 2023. The Chancellor replied to the Governor on 22 June 2023.
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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.
Published 22 June 2023