HC Deb 11 February 1970 vol 795 cc351-2W
Mr. Hooley

asked the Chancellor of the Exchequer if, in the light of the substantial surplus on the United Kingdom balance of payments in 1969, he will list the reasons for continuing to maintain Bank Rate at the present levels.

Mr. Taverne

Many factors enter into the determination of Bank rate including for example, domestic credit policy and the levels of interest rates in other financial centres.

Mr. Hooley

asked the Chancellor of the Exchequer if he will list in the OFFICIAL REPORT the Bank rate, or equivalent ruling interest rate, on 3rd February, 1970, in the United Kingdom, the United States of America, France, the Netherlands, Belgium, Italy, Norway, Sweden, Denmark, Austria, Switzerland and the Federal German Republic, and similarly on 3rd February, 1969, from information available to him from international sources.

Mr. Taverne

3rd February 1969 Per cent. 3rd February, 1970 Per cent.
United Kingdom 7 8
United States of America 6
France 6 8
Netherlands 5 6
Italy 4
Sweden 5 7
Denmark 6 9
Austria 5
Switzerland 3
Federal German Republic 3 6