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Interest Rates

Volume 481: debated on Monday 20 October 2008

To ask the Chancellor of the Exchequer when he next expects to meet the Governor of the Bank of England to discuss the level of UK interest rates; and if he will make a statement. (228790)

The Government do not comment on or have input into, individual interest rate decisions taken by the Monetary Policy Committee of the Bank of England. To do so would compromise the arrangements for independence of the Bank of England that the Government put in place in 1997 and would squander the credibility gains that have resulted from those arrangements.

The Chancellor of the Exchequer regularly has meetings with the Governor of the Bank of England, to discuss a wide range of issues.