UK BOE Inflation Letter
It gives insight into the future of monetary policy - when CPI y/y moves more than 1% from the mandated target rate of 2%, the BOE Governor is required to write an open letter to the chancellor of the exchequer explaining what is being done to address the situation;
The letter is only issued when the latest CPI y/y is above 3.0% or below 1.0%, but can only be released once every 3 months;
- History
| Expected Impact / Date | Description |
|---|---|
| Apr 30, 2026 | |
| Dec 18, 2025 | |
| Sep 18, 2025 | |
| Jun 19, 2025 | |
| Mar 21, 2024 | |
| Dec 14, 2023 | |
| Sep 21, 2023 | |
| Jun 22, 2023 | |
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- UK BOE Inflation Letter News
From bankofengland.co.uk|Apr 30, 2026If 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 Dear Rachel, On 22 April 2026, the Office for National Statistics (ONS) published data showing that twelve-month inflation in the Consumer Prices Index (CPI) was 3.3% in March. This letter sets out the ...- From bankofengland.co.uk|Dec 18, 2025|4 comments
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 On 17 December 2025, the Office for National Statistics (ONS) published data showing that twelve-month inflation in the Consumer Prices Index (CPI) was 3.2% in November, down from 3.6% in October. This ... 
From bankofengland.co.uk|Sep 18, 2025|1 commentOn 17 September 2025, the Office for National Statistics (ONS) published data showing that twelve-month inflation in the Consumer Prices Index (CPI) was 3.8% in August, unchanged from 3.8% in July. This letter sets out the outlook for inflation and the policy action the Monetary Policy Committee (MPC) is taking to return inflation to the 2% target, along with other considerations required by the MPC’s remit when inflation moves away from the 2% target by more than 1 percentage point. Why has inflation moved away from the 2% target? ...
From bankofengland.co.uk|Jun 19, 2025On 21 May 2025, the Office for National Statistics (ONS) published data showing that twelve-month inflation in the Consumer Prices Index (CPI) was 3.5% in April. On 18 June, the ONS published data showing that CPI inflation was 3.4% in May. This letter sets out the outlook for inflation and the policy action the Monetary Policy Committee (MPC) is taking to return inflation to the 2% target, along with other considerations required by the MPC’s remit when inflation moves away from the 2% target by more than 1 percentage point. Why has ...
From bankofengland.co.uk|Mar 21, 2024Dear Jeremy On 20 March 2024, the Office for National Statistics (ONS) published data showing that twelve-month inflation in the Consumer Prices Index (CPI) was 3.4% in February. This letter sets out the outlook for inflation and the policy action the Monetary Policy Committee (MPC) is taking to return inflation to the 2% target, along with other considerations required by the MPC’s remit when inflation moves away from the 2% target by more than 1 percentage point. Inflation has continued to fall as expected. Cost pressures have ...
- From bankofengland.co.uk|Dec 14, 2023|2 comments
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 Dear Jeremy On 15 November 2023, the Office for National Statistics (ONS) published data showing that twelve-month inflation in the Consumer Prices Index (CPI) was 4.6% in October. This letter sets out ... 
From bankofengland.co.uk|Sep 21, 2023If 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 bankofengland.co.uk|Jun 22, 2023If 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.
| Released on Apr 30, 2026 |
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| Released on Dec 18, 2025 |
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| Released on Sep 18, 2025 |
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| Released on Jun 19, 2025 |
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| Released on Mar 21, 2024 |
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| Released on Dec 14, 2023 |
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| Released on Sep 21, 2023 |
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| Released on Jun 22, 2023 |
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- Details