Bank of England Governor and Chancellor Exchange Letters on Asset Purchase Facility
In May 2026, the Governor of the Bank of England and the Chancellor of the Exchequer exchanged letters regarding the Asset Purchase Facility. The correspondence outlines the terms and conditions of the facility, which is used for monetary policy purposes. The letters also reference a separate exchange in April 2026 concerning CPI inflation. 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 published plans to support resilience in the life insurance industry.
Key facts
- Exchange of letters between the Governor and the Chancellor on the Asset Purchase Facility occurred in May 2026.
- A separate exchange of letters regarding CPI Inflation took place in April 2026.
- Bank Rate was maintained at 3.75% in April 2026.
- PRA published plans to support resilience in the life insurance industry.
Entities
Institutions
- Bank of England
- Prudential Regulation Authority
Locations
- United Kingdom