HL Deb 03 July 1984 vol 454 cc144-5

3.2 p.m.

Lord Diamond

My Lords, I beg leave to ask the Question standing in my name on the Order Paper.

The Question was as follows:

To ask Her Majesty's Government what is their present policy on interest rates.

The Earl of Gowrie

My Lords, we continue to give high priority to policies designed to encourage lower interest rates. Maintaining sound monetary conditions is the best way to ensure a downward trend in inflation and interest rates over the medium term. But interest rates are bound to fluctuate if we are to keep control of monetary growth.

Lord Diamond

My Lords, being aware that the appetite of your Lordships for matters of this kind is fully satisfied, I will content myself by saying that I shall read the Minister's Answer carefully.

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