§ Mr. CousinsTo ask the Chancellor of the Exchequer what was the range and average level of overnight money market rates on the inter-bank markets in London each month from September 1992 to January 1993.
§ Mr. NelsonThe range and the average level of overnight money market rates on the interbank markets each month from September 1992 to January 1993 were as follows:
Overnight interest rates1 Range Average2 1992 September 180 -3½ 9 23/32 October 100 -4 9⅝ November 14⅛ -2½ 7 19/32 December 9¼ -2 6 13/16 1993 January 100 1¼ 6 29/32 1These are quoted rates as observed by the Bank of England, and are not comprehensive. As they are quoted rates, transactions did not necessarily take place at these rates, and it is also possible that transactions took place at other rates. 2The average is based on daily observations taken at 10.20 am.