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Exchange of letters between the Governor and the Chancellor regarding CPI Inflation - December 2025
Exchange of letters between the Governor and the Chancellor
Published on
18 December 2025
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.
Letter from the Governor to the Chancellor