§ Mr. WrayTo ask the Chancellor of the Exchequer what specific weight is given, when deciding policy, regarding the value of the pound sterling, to the following factors:(a) internal production of goods and services, (b) the creation or loss of jobs, (c) inflationary trends resulting from monetary and other economic pressures, (d) the state of the balance of payments, (e) productivity and (f) other economic considerations; and if he will make a statement.
§ Mr. LilleyThe Government's monetary policy is designed to exert continued downward pressure on inflation. Exchange rate policy is part of that overall policy. Decisions are taken within a continuous and comprehensive assessment of monetary conditions so as to maintain the required downward pressure on inflation.