We are concerned that recent monetary policy has worsened wealth inequality.
The Bank of England's own research found that the richest 10% of households in Britain had seen the value of their assets increase by up to £322,000.
The Bank is deliberately boosting the price of assets such as stocks and bonds, which are disproportionately owned by the most well-off.
As citizens, we expect monetary policy to benefit the whole population, not just a wealthy few.
The unfair effects of low interest rates and quantitative easing undermine our confidence in monetary policy decision-making.
We call on the Treasury Select Committee to acknowledge monetary policy’s unfair impacts and recommend a change of course.