§ Mr. Michael Forsythasked the Chancellor of the Exchequer if he has any plans to include building society current and deposit accounts in the assessment of sterling M3.
§ Mr. MooreAlthough deposits with building societies are not included in sterling M3, they are included in PSL2 and in transactions balances — M2. In assessing monetary conditions, account is taken of movements in a range of monetary aggregates and also of other evidence including structural changes in financial markets, savings behaviour, the exchange rate and the level and structure of interest rates.