Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent discussions he has had with the Governor of the Bank of England on domestic pressures potentially impacting inflation; and if he will make a statement.

Monetary policy is the responsibility of the independent Monetary Policy Committee at the Bank of England. The Government is working closely with the Bank to ensure that monetary and fiscal policy are well coordinated, and fully supports the Bank in their mission to drive down inflation.

Consistent with monetary policy independence, the Chancellor has regular meetings with the Governor of the Bank. Open exchange of views in these meetings is critical for the Government and the Bank to understand each other’s views on the outlook for the economy and monetary and fiscal policy, to support policy making in both institutions. These meetings are therefore confidential.