HC Deb 07 June 1990 vol 173 c706W
49. Mr. Gow

To ask the Chancellor of the Exchequer what assessment he has made of the relationship between the present rate of monetary growth and the Government's declared purpose of achieving stable prices.

Mr. Norman Lamont

The role of monetary policy in the defeat of inflation, the central objective of the medium-term financial strategy, was fully described in the FSBR. Consistent with this objective, the FSBR set a target range of 1–5 per cent. for MO's 12-month growth in 1990–91, although the FSBR noted that it could take some months for MO growth to fall within the range.