Question to the HM Treasury:
To ask His Majesty's Government what discussions they have had with the Bank of England regarding slowing the Bank of England's bond-selling plan to help reduce UK government borrowing costs.
The Bank of England has operational independence from the government to carry out its statutory responsibilities for monetary policy and financial stability. Monetary policy, including quantitative easing, is the responsibility of the independent Monetary Policy Committee at the Bank of England.
The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, it is in line with international standards and essential for the effective delivery of monetary policy, so the government does not comment on the conduct or effectiveness of monetary policy.