Correspondence

Open letters between HM Treasury and Bank of England, June 2025

CPI inflation was 3.5% in April 2025, prompting an open letter from the Governor of the Bank of England to the Chancellor on 19 June 2025. The Chancellor replied to the Governor on 19 June 2025.

• From: HM Treasury
• Published: 19 June 2025

Documents

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England (19/06/2025)

PDF, 62.3 KB, 2 pages

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Letter from the Governor of the Bank of England to the Chancellor of the Exchequer (19/06/2025)

PDF, 153 KB, 3 pages

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Details

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 19 June 2025