Central Bank Base Rate

HC Deb 04 April 1989 vol 150 cc1-2W

Mr. Gould

To ask the Chancellor of the Exchequer if he will publish a table in theOfficial Report showing for each quarter since the first quarter of 1979 Britain's central bank base rate as a percentage of the G7 average.

Mr. Lilley

Interest rates in the United Kingdom from the first quarter of 1979 are shown in the table along with the average interest rate in the Group of Seven major industrialised countries.

Three month interest rates
	United Kingdom1	G7 average2
1979
Q1	12.8	8.6
Q2	12.6	8.9
Q3	14.2	10.0
Q4	16.1	12.2
1980
Ql	17.9	13.5
Q2	17.1	12.5
Q3	16.0	11.2
Q4	15.4	13.5
1981
Ql	13.0	13.6
Q2	12.4	14.5
Q3	15.0	15.3
Q4	15.7	13.1
1982
Ql	14.1	12.9
Q2	13.4	13.0
Q3	11.2	11.4
Q4	10.1	9.7

	United Kingdom1	G7 average2
1983
Ql	11.2	9.2
Q2	10.2	9.1
Q3	9.8	9.4
Q4	9.4	9.4
1984
Ql	9.3	9.5
Q2	9.3	10.0
Q3	11.1	10.3
Q4	10.1	9.2
1985
Q1	13.0	9.1
Q2	12.6	8.6
Q3	11.7	8.2
Q4	11.6	8.3
1986
Ql	12.4	8.2
Q2	10.2	7.0
Q3	10.0	6.5
Q4	11.2	6.6
1987
Q1	10.6	6.6
Q2	9.2	6.6
Q3	9.8	6.8
Q4	9.2	7.1
1988
Q1	9.0	6.5
Q2	8.4	6.7
Q3	11.3	7.7
Q4	12.5	8.1
1989
3Q1	13.0	8.9
1 Three month interbank rate.
2 Certificate of deposit or interbank rate.
3 Average of Monday rates for January, February and first three Mondays of March.