Written Question·Treasury·UIN 70263

Bank of England

Tabled: 22 July 2025

Answered: 2 September 2025

Question

Mr Angus MacDonald

Liberal Democrat — Inverness, Skye and West Ross-shire

To ask the Chancellor of the Exchequer, what recent assessment she has made of the potential merits of requiring the Bank of England to pay interest on its reserves to commercial banks.

Answer

Emma Reynolds

The Bank of England has operational independence from the government to carry out its statutory responsibilities for monetary policy and financial stability. Monetary policy, including quantitative easing, is the responsibility of the independent Monetary...

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