Skip to main content

Interest Rates

Volume 940: debated on Thursday 1 December 1977

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Chancellor of the Exchequer if it remains the Government's policy to keep interest rates stable.

It is the Government's desire to see interest rates kept as low as possible consistent with adequate control of the monetary aggregates. There is no reason to presume that we will not now enjoy a period of stability in interest rates or that the next move will be upward rather than downward. Accordingly, on 30th November the Bank informed the discount market that it would not wish to see any further increase in MLR.