UK PM Truss says it is right for BoE to set interest rates independently

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Published: Oct 5, 2022, 10:51 UTC

BIRMINGHAM, England (Reuters) - British Prime Minister Liz Truss said on Wednesday it was right for the Bank of England to set interest rates independently without interference from politicians.

Britain's Conservative Party's annual conference in Birmingham

BIRMINGHAM, England (Reuters) – British Prime Minister Liz Truss said on Wednesday it was right for the Bank of England to set interest rates independently without interference from politicians.

“It’s right that interest rates are independently set by the Bank of England and that politicians do not decide on this,” Truss said in a speech at the annual conference of the ruling Conservative Party.

“The Chancellor (finance minister) and the (BoE) Governor will keep closely coordinating our monetary and fiscal policy, and the Chancellor and I are in complete lockstep on this.”

(Reporting by William James, writing by Sachin Ravikumar; Editing by Paul Sandle)

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