Chancellor sets new remit for Bank of England rate committee
The Chancellor has sent a letter to the Governor of the Bank of England setting out the remit for the Monetary Policy Committee, according to the Bank of England. The document is titled Remit for the Monetary Policy Committee, October 2026. Separately, the Bank of England reports that regulators have announced plans to simplify the Senior Manager and Certification Regime, a framework governing accountability and conduct in UK financial firms. The announcements were published on 28 Oct.
Key facts
- The remit letter was published by the Bank of England on 28 Oct 2026.
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Why it matters
The remit defines the goals the committee must pursue when setting interest rates, and the regulatory changes would affect how financial firms assign responsibility.
What changed
First published from Bank of England