Question to the HM Treasury:

To ask Her Majesty’s Government what steps they plan to take in response to any impact on retail prices of the UK’s decision to leave the EU.

The independent Monetary Policy Committee (MPC) of the Bank of England has responsibility for monetary policy, and its remit it set by the Government. The MPC’s primary objective is to ensure price stability, which the Government believes to be an essential pre-requisite to longer-term growth and macroeconomic stability.

The MPC considers the impact of wide range of financial market and economic factors on consumer prices in determining the appropriate setting of monetary policy.