Select Committee · Treasury Committee

Quantitative tightening

Status: Closed Opened: 31 Jan 2023 Closed: 1 May 2024 10 recommendations 12 conclusions 1 report

This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate the role of quantitative easing and tightening in the current outbreak of double-digit inflation and in bringing inflation down. Read the call for evidence to find out more about the inquiry

Reports

1 report

Title	HC No.	Published	Items	Response
Fifth Report - Quantitative Tightening	HC 219	7 Feb 2024	22	Responded

Recommendations & Conclusions

1 item

20 Recommendation Fifth Report - Quantitative Tightening Deferred

Clarify future arrangements for steady-state level of reserves on Bank’s balance sheet

The Bank and Treasury should clarify the future arrangements for the steady-state level of reserves on the Bank’s balance sheet as soon as possible, including the future of QT at that point, the assets that will be used to back reserves, the remuneration of those reserves, and the implications for …

Government response. The Bank acknowledges the need to clarify future arrangements for the steady-state level of reserves and states it is 'continuing to analyse' the optimal level, with decisions to be made in close consultation with HM Treasury and communicated transparently.

HM Treasury

Correspondence

5 letters

Date	Direction	Title
12 Jan 2024	From cttee	Letter to Bank of England relating to Cashflows arising from quantitative easin…
12 Jan 2024	From cttee	Letter to HM Treasury, Permanent Secretary relating to Cashflows arising from q…
12 Jan 2024	To cttee	Letter from Bank of England relating to Cashflows arising from quantitative eas…
12 Jan 2024	To cttee	Letter from HM Treasury, Permanent Secretary relating to Cashflows arising from…
21 Mar 2023	—	Correspondence from the Bank of England relating to the inquiry into Quantitati…