HC Deb 12 July 1983 vol 45 c303W
Mr. Austin Mitchell

asked the Chancellor of the Exchequer whether he makes any estimate of the effect on the exchange rate of changes in the rate of interest relative to those of other countries.

Mr. Moore

The effects of changes in relative interest rates on the exchange rate are both highly uncertain and likely to vary. They will very much depend upon the circumstances prevailing when the change to interest rates takes place. No precise answer can therefore be given.