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Home > Monetary Policy > Governor/Chancellor letters on monetary policy

Governor/Chancellor letters on monetary policy

Each year the Chancellor of the Exchequer writes a letter to the Governor confirming the inflation target and the Bank’s remit for monetary policy.

If inflation moves away from the target by more than 1 percentage point in either direction, the Governor is required to send an open letter to the Chancellor explaining why inflation has moved away from target and what action the Bank is taking to bring inflation back to target.  The Chancellor usually responds to the Governor with an open letter of his own.

Open Letters

Remit Letters