Bank of England

Summary

To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of (a) reducing or (b) removing the interest paid to commercial banks on the reserves those banks hold with the Bank of England.

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Timeline

1. 19 November 2025

   Written question

   To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of (a) reducing or (b) removing the interest paid to commercial banks on the reserves those banks hold with the Bank of England.

   Source: Commons

2. 24 November 2025

   Answer

   Monetary policy, including quantitative easing, is the responsibility of the independent Monetary Policy Committee at the Bank of England. The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, and essential for the ...

   Source: Written answer

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• · Treasury · Answering body

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