To ask the Chancellor of the Exchequer, whether the Bank of England is subject to regional requirements on its (a) performance, (b) monitoring and (c) reporting.
24 February 2020
The Bank of England is the central bank for the whole of the United Kingdom.
The Bank has a network of agents operating from twelve agencies across the UK. Up to four agents are based at each agency and they are supported by small administrative teams. The Agents’ Summary of Business Conditions is published four times a year and reflects UK-wide feedback from firms covering all sectors of the economy. The agents also organise visits for the Bank’s policymakers across the UK so they can hear the views of businesses and communities first-hand. This information is used to inform the decisions the Bank of England’s policy committees make. For example, the Monetary Policy Committee (MPC), Financial Policy Committee (FPC) and Prudential Regulation Committee (PRC).