Quantitative tightening

Treasury Committee Closed Inquiry
Opened: 31 Jan 2023 Closed: 1 May 2024 Parliament page
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 … Read more
10 Recommendations
12 Conclusions
1 Report
5 Letters
2 Events
Activity timeline 9 events
18 Apr
2024
Report published
7 Feb
2024
Report published
12 Jan
2024
Correspondence
12 Jan
2024
Correspondence
12 Jan
2024
Correspondence
12 Jan
2024
Correspondence
18 May
2023
Formal meeting (oral evidence session) · The Bank of England (Restricted in-person public access)
18 Apr
2023
Formal meeting (oral evidence session) · The Wilson Room, Portcullis House
21 Mar
2023
Correspondence
Title HC No. Published Items Response
Fifth Report - Quantitative Tightening HC 219 7 Feb 2024 22 Responded
Recommendations & Conclusions
1 result
Clear
18 Conclusion Not Addressed
Fifth Report - Quantitative Tighte…
Committee does not support cutting remuneration of Bank reserves due to financial stability concerns
We have received proposals for interventions that would cut the remuneration of bank reserves and thereby reduce the ongoing losses arising from QE and QT. However, we have also received evidence that cutting remuneration now could be similar to a … Read more
Government Response
The government discusses the cashflows between HM Treasury and the APF, highlighting the transparency of the Bank's reporting and the wider economic impacts of QE and QT. The response does not directly address the committee's conclusion that it does not support cutting the remuneration of Bank reserves.
HM Treasury
View details
Government Response AI assessment · 22 of 10 classified
Accepted 9
Acknowledged 6
Deferred 1
Not Addressed 1
Rejected 5
Total 10 recs + 12 conclusions
Correspondence 5 letters
12 Jan 2024 From committee Letter to Bank of England relating to Cashflows arising from quantitative easing and tightening, dated 4 December
Parliament page
12 Jan 2024 From committee Letter to HM Treasury, Permanent Secretary relating to Cashflows arising from quantitative easing and tightening, dated 4 December
Parliament page
12 Jan 2024 To committee Letter from Bank of England relating to Cashflows arising from quantitative easing and tightening, dated 18 December
Parliament page
12 Jan 2024 To committee Letter from HM Treasury, Permanent Secretary relating to Cashflows arising from quantitative easing and tightening, dated 15 December
Parliament page
21 Mar 2023 Correspondence from the Bank of England relating to the inquiry into Quantitative Tightening, dated 16 March
Parliament page