UK government will not change BoE inflation target, minister says

Britain’s government will not change the Bank of England’s 2% inflation target and is working with the central bank to ensure fiscal and monetary policy both work to bring down inflation, financial services minister Andrew Griffith said on Tuesday.

“We will continue to work closely with them (the BoE) to ensure that monetary and fiscal policy are well coordinated. And the chancellor reconfirmed the inflation target of 2% at the Autumn Statement and confirmed this government will not change the target,” Griffith told parliament.