Bank of England Governor and Chancellor Exchange Letters on April 2026 CPI Inflation
The Governor of the Bank of England has sent an open letter to the Chancellor regarding CPI inflation in April 2026, as required when inflation deviates more than 1 percentage point from the 2% target. The letter explains the reasons for the deviation and outlines actions the Bank is taking to return inflation to target. The Chancellor has responded. Additionally, the Bank Rate was maintained at 3.75% in April 2026, as detailed in the Monetary Policy Summary and Minutes. The Prudential Regulation Authority (PRA) also published plans to support resilience in the life insurance industry, and a Statistical Notice requested contact details for the Bank of England Levy.
Key facts
- Governor required to send open letter when CPI inflation deviates >1% from 2% target
- Letter explains reasons for deviation and Bank's actions to bring inflation back to target
- Chancellor responded to the Governor's letter
- Bank Rate maintained at 3.75% in April 2026
- Monetary Policy Summary and Minutes published for April 2026
- PRA published plans to support resilience in life insurance industry
- Statistical Notice 2026/03 requests contact details for Bank of England Levy
- Letters and documents available on Bank of England website
Entities
Institutions
- Bank of England
- Prudential Regulation Authority
Locations
- United Kingdom