Correspondence

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

CPI inflation was 3.8% in July 2025, prompting an open letter from the Governor of the Bank of England to the Chancellor on 18 September 2025. The Chancellor replied to the Governor on 18 September 2025.

• From: HM Treasury
• Published: 18 September 2025

Documents

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England (18/09/2025)

PDF, 104 KB, 2 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Letter from the Governor of the Bank of England to the Chancellor of the Exchequer (18/09/2025)

PDF, 150 KB, 3 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

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 18 September 2025