§ 4. Sir R. Boothbyasked the Chancellor of the Exchequer what steps are being taken to co-ordinate the monetary policies of countries within the sterling area through close co-operation between their central banks.
§ Mr. H. MacmillanThe Governments of sterling area countries are responsible for their own monetary policy and for such co-ordination as is felt desirable and practicable with the monetary policies of other sterling area countries. The close relations which exist between the Bank of England and the central banks of other countries in the sterling area assist in such co-ordination.