HC Deb 08 December 1994 vol 251 c329W
Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what assessment he has made of the advantages and disadvantages of a fall in the rate of foreign exchange; and what is his policy on whether the disadvantages outweigh the advantages.

Mr. Nelson

Movements in the exchange rate are considered as part of the general assessment of monetary conditions in setting monetary policy. The Government recognise the value of a stable exchange rate, but do not have a target rate for sterling.

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