Fifth Report - Quantitative Tightening

Select Committee
Treasury Committee HC 219 7 February 2024
Report Status Government responded
Conclusions & Recommendations 22 items (10 recs)
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Government Response (AI assessment · 22 of 22 classified)
Accepted 9
Acknowledged 6
Deferred 1
Not Addressed 1
Rejected 5
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18 Conclusion Not Addressed
Para 81
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 default, and that any scheme tied to commercial banks’ holdings …
Government Response Summary
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.
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