HL Deb 21 July 1997 vol 581 c137WA
Baroness Miller of Hendon

asked Her Majesty's Government:

Whether they agree with the decision of the Bank of England on 10 July to increase interest rates.

Lord McIntosh of Haringey

The Chancellor set out the Government's view on the Bank of England's recent decision to increase interest rates in the other place on 10 July (Official Report, col. 1056). He explained that the Bank of England agreed with him that if a cycle of boom and bust is to be prevented, inflationary pressures in the economy must be brought under control.