HC Deb 24 March 1970 vol 798 cc364-5W
123. Mr. John Wells

asked the Chancellor of the Exchequer, on the information available to him from international sources, if he will list the levels and changes in central bank rediscount rates since 1964 in Great Britain, Germany, France, Italy, Switzerland and the United States of America, respectively, and the current account surplus or deficit for each country in each year from 1964 to the latest available date.

Mr. Taverne

The following are the figures:

CENTRAL BANK REDISCOUNT RATES
Date … Rate (per cent.)
United Kingdom. 1964—January 1st … 4
February 27th … 5
November 23rd … 7
1965—June 3rd … 6
1966—July 14th … 7
1967—January 26th … 6½
March 16th … 6
May 4th … 5½
October 19th … 6
November 9th … 6½
November 18th … 8
1968—March 21st … 7½
September 19th … 7
1969—February 27th … 8
1970—March 5th … 7½
Germany 1964—January 1st … 3
1965—January 22nd … 3½
August 8th … 4
1966—May 27th … 5
1967—January 6th … 4½
February 17th … 4
April 14th … 3½
May 12th … 3
1969—April 18th … 4
June 20th … 5
September 11th … 6
1970—March 9th … 7½
France 1964—January 1st … 4
1965—April 8th … 3½
1968—July 3rd … 5
November 12th … 6
1969—June 13th … 7
October 8th … 8
Date Rate (per cent.)
Italy 1964—January 1st … 3½
1969—August 14th … 4
1970—March 9th … 5½
Switzerland 1964—January 1st … 2
July 3rd … 2½
1966—July 6th … 3½
1967—July 10th … 3
1969—September 15th … 3¾
U.S.A. 1964—January 1st … 3½
November 24th … 4
1965—December 6th … 4½
1967—April 7th … 4
November 20th … 4½
1968—March 22nd … 5
April 19th … 5½
August 30th … 5¼
December 18th … 5½
1969—April 4th … 6
CURRENT SURPLUS (+) OR DEFICIT (-)
(U.S. $ million)
1964 1965 1966
United Kingdom -1,100 -227 +112
Germany* +38 -1,631 +74
France† -102 +761 +171
Italy* +627 +2,211 +2,127
Switzerland -411 -70 +121
U.S.A +6,728 +5,249 +3,555
1967 1968 1969
United Kingdom -821 -742 +878
Germany* +2,463 +2,838
France† +233 -1,220
Italy* +1,723 +2,644
Switzerland +239 +545
U.S.A +3,493 +1,357
* Excluding reinvested profits.
† Up to 1966 estimates relate to transactions between France and the non-franc area.
=Not available.