Sir, Anatole Kaletsky states that the idea that inflation should be the sole target for an independent Bank of England is the next item of "old conventional wisdom" that may have to be rejected by whoever is prime minister after the election ("If interest rates rise, our prospects plummet", Opinion, Mar 11). He is wrong in his assertion that it is the sole objective now. The actual mandate of the Bank is to maintain price stability, and subject to that, to support the economic policy of the Government, including its objectives for growth and employment.