asked the Chancellor of the Exchequer what change in circumstances triggers a change in the central rate of currencies forming the exchange rate mechanism of the European monetary system.

Exchange market pressures requiring an adjustment of central rates can stem from a number of sources. These include, in particular, the degree of convergence of economic performance and policies as regards inflation.

asked the Chancellor of the Exchequer what was the central rate of the exchange rate mechanism of the European monetary system (a) in September 1984 and (b) currently; and what change has taken place in the £ sterling's relationship to it in that period.

I refer the hon. Member to the answer I gave him on 3 July 1985, at column 174.