LORDS

Deputy Governor of the Bank of England questioned on RPI

05 October 2018

The Economic Affairs Committee will hear evidence from the Dr Ben Broadbent, Deputy Governor (Monetary Policy) of the Bank of England on the use of the retail price index (RPI) as a measure of inflation. This evidence session is the latest in the Committee’s inquiry into the use of RPI.

Witness

Tuesday 9 October in Committee Room 1, Palace of Westminster
At 3.35pm.

  • Dr Ben Broadbent, Deputy Governor (Monetary Policy) of the Bank of England

Likely questions

  • Is the consumer price index (CPI) a good measure of general household inflation?
  • The Governor of the Bank of England told the Committee in January that the way housing costs were implemented in the RPI was a known error with the index. Why is this the case?
  • Does the Bank of England accept that different price indices are required for macroeconomic purposes and cost of living purposes?
  • Which of the household cost indices being developed is the best solution for a cost of living index?
  • What is the role of the Bank of England in determining whether a change to RPI would be materially detrimental to the interests of gilt holders and the factors which the Bank would take into account?

Further information

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