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Market Impact: 0.45
Open letters between HM Treasury and Bank of England, September 2026
Source: HM Treasury
InflationMonetary PolicyEconomic Data
UK CPI inflation was 3.1% in August 2026, triggering the Bank of England Governor's required open-letter process to the Chancellor on 17 September. The Chancellor responded the same day, underscoring that inflation remains sufficiently above the Bank's target to warrant formal explanation and continued policy scrutiny.
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