§ Mr. Lathamasked the Chancellor of the Exchequer whether he will make a statement on the current trend in interest rates.
§ Mr. HayhoeThe three-month interbank rate now stands at about 10.25 per cent. This is approximately 1.5 per cent. lower than its recent peak in January and 3.5 per cent. lower than its level this time last year. Interest rates have to adjust to play their part in maintaining sound monetary conditions. Falls in interest rates are to be welcomed provided that they are consistent with this objective.