Interest Rates (Hansard, 19 October 1992)

HC Deb 19 October 1992 vol 212 c188W 188W

§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer by how many points United Kingdom interest rates have been reduced(a) since leaving the ERM and (b) between joining the ERM and August 1992.

§ Mr. Nelson
Between joining the ERM and August 1992, United Kingdom bank base rates were reduced by 5 points, from 15 to 10 per cent. They have since been reduced to 9 per cent.