MPs to Review Bank of England's Remit Amid Inflation Concerns

MPs in the UK are set to examine whether the Bank of England's remit is 'fit for purpose', according to reports. The review comes as the central bank faces criticism over its handling of inflation and economic growth.

The move has been prompted by concerns that the Bank of England's current mandate may not be sufficient to tackle the challenges facing the UK economy, particularly with regards to inflation.

It is understood that MPs will consider whether the Bank of England's remit should be revised or expanded to include more explicit targets for employment and productivity growth.