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Commercial Bills

Volume 79: debated on Monday 20 May 1985

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asked the Chancellor of the Exchequer if he will publish in the Official Report a table showing for each year since 1979 and 1985 to date the net transactions in the purchase and sale of commercial bills by the Bank of England together with his estimate of the effect in each year on (a) the United Kingdom money supply and (b) the level of domestic credit.

I would refer the hon. Member to the answer I gave him on 28 February.The Bank of England's purchases and sales of commercial bills are transactions between the bank and the monetary sector, and therefore do not affect the level of domestic credit.