§ Mr. Deakinsasked the Chancellor of the Exchequer what effect he estimates the United States surplus on capital account and factors arising therefrom have on the level of British interest rates.
§ Mr. Ian StewartCapital inflows into the United States have contributed to the strength of the dollar during 1983, and it is against this background that other countries have operated monetary policy. This is, however, one of a number of factors that have influenced the financial environment so that it is not possible to estimate the extent to which United States capital inflows have influenced interest rates in these countries.