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Monetary Policy

Volume 226: debated on Wednesday 16 June 1993

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To ask the Chancellor of the Exchequer what changes in monetary policy he plans in the light of recent discussions at the OECD; and if he will make a statement.

The Government have no such plans.The United Kingdom's monetary policy is set to meet the Government's objective of keeping underlying inflation within the range of 1 to 4 per cent. and to bring it down to the lower part of that range by the end of the current Parliament. The level of base interest rates is consistent with sustainable growth and the Government's inflation objective.