Interest Rates

HM Treasury written question – answered on 30th June 2015.

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Photo of Jim Shannon Jim Shannon Shadow DUP Spokesperson (Health), Shadow DUP Spokesperson (Transport), Shadow DUP Spokesperson (Equality)

To ask Mr Chancellor of the Exchequer, what recent discussions he has had with the Governor of the Bank of England on the likelihood that interest ratios will remain at their present level.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

The UK’s monetary policy framework, set out in the Bank of England Act 1998, gives operational responsibility for monetary policy to the independent Monetary Policy Committee. The Chancellor of the Exchequer has frequent discussions with the Governor of the Bank of England on a wide range of issues relating to the UK economy.

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