UK finance minister: Bank of England independence is sacrosanct

LONDON (Reuters) – British finance minister Kwasi Kwarteng on Friday said the Bank of England’s independence was ‘sacrosanct’.

“This government considers their independence to be sacrosanct, and we remain closely coordinated,” he told parliament.

On Thursday after the BoE raised interest rates, Kwarteng published a letter to Governor Andrew Bailey saying he expected the bank to take the forceful action necessary to contain inflation, but that Bailey had his full support.

(Reporting by David Milliken and William James; Editing by Kate Holton)