Question to the HM Treasury:

To ask His Majesty's Government what steps they are taking to encourage the Bank of England to measure money growth and report annually on the quantity of money, so that steps can be taken to maintain price stability and prevent inflation.

The independent Monetary Policy Committee (MPC) of the Bank of England have operational independence of monetary policy, so the Government rightly does not comment on the conduct of monetary policy.

The MPC regularly monitors money growth and the quantity of money in developing monetary policy, as confirmed by the Governor to the Lords Economic Affairs Committee in February 2024.

The Bank publishes a quarterly Monetary Policy Report which sets out the economic analysis and inflation projections that the MPC uses to make its interest rate decisions. The latest report, published in May 2024, includes an assessment of recent developments in broad money.