The Bank of England (BoE) has published a letter from its Governor, Mark Carney, to Andrew Tyrie MP, the chairman of the House of Commons Treasury Committee. The letter summarises the BoE’s assessment of how EU membership affects the BoE’s ability to achieve its statutory objectives which is contained in its report on ‘EU membership and the Bank of England (the Report). It then considers how the agreement reached on 19 February 2016 by Heads of State or Government on A new settlement for the United Kingdom within the European Union may influence this. Annex A to the letter includes the BoE’s view on an effective subsidiarity mechanism and Annex B contains material from the Report which is relevant to the Treasury Committee’s request on the overall cost of EU regulation.

View Letter on how EU membership affects the BoE’s ability to achieve its statutory objectives, 7 March 2016