Open letters between HM Treasury and Bank of England, March 2024
CPI inflation was 3.4% in February 2024, prompting an open letter from the Governor of the Bank of England to the Chancellor on 21 March 2024. The Chancellor replied to the Governor on 21 March 2024.
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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.