To ask Her Majesty's Government what assessment they have made of how the level of sterling has affected the quantitative easing programme of the Bank of England. [HL4211]

The Monetary Policy Committee (MPC) of the Bank of England is responsible for setting monetary policy, including use of the asset purchase facility, to achieve the Bank's annual inflation target of 2 per cent. The MPC's monetary policy decisions are informed by a range of indicators, including developments in the exchange rate.