HL Deb 25 June 1997 vol 580 c168WA
Baroness Miller of Hendon

asked Her Majesty's Government:

For which factors affecting inflation they accept responsibility.

Lord Simon of Highbury

Inflation is affected by a range of factors. It is the responsibility of the Bank of England to take these factors into account when setting interest rates to meet the Government's inflation target. A full explanation of the Government's approach to monetary policy was set out in the Chancellor's Mansion House speech.