Submitted by Luther Yeates on Tuesday 31st March 2026
Published on Thursday 7th May 2026
Current status: Open
Open until: Saturday 7th November 2026
Current Signatures: 10
(count is updated approximately hourly)
Relevant Departments
Tagged with
$PUSH ~ Bank of England ~ Banks ~ Base ~ Borrowing ~ Chain ~ Cost ~ Cutting ~ Demand ~ design ~ Energy ~ energy prices ~ England ~ Events ~ Framework ~ Global ~ inflation ~ inflation rate ~ Interest rates ~ Of England ~ Price ~ Primary ~ Pull ~ Raise ~ rate cuts ~ Ratings ~ Reviewed ~ Separate ~ Side ~ stable ~ supply chains ~ Target ~ The Bank of England ~ Tool
Review the Bank of England's remit to separate supply and demand inflation
We call on the Government to update the Bank of England's monetary policy remit to require the MPC to distinguish between demand-pull and supply-push inflation, and permit base rate cuts even when headline inflation exceeds target, if the cause is primarily supply-side.
The Bank of England's current remit requires it to target a CPI inflation rate of 2%, with interest rate policy used as the primary tool to achieve this. This framework was designed for an era of predominantly stable, demand-driven inflation. It does not adequately account for inflation driven by supply-side shocks — such as energy price spikes, global supply chain disruption, or geopolitical events — which cannot be meaningfully resolved by raising the cost of borrowing.
If you want to sign this petition (as opposed to merely discuss it), you need to do that on the government's e-Petitions website.
216.73.217.179 Tue, 23 Jun 2026 05:32:27 +0100
