§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer if it is the policy of Her Majesty's Government to shadow the deutschmark to bring down the rate of inflation.
§ Mr. NelsonThe Government's monetary policy is clearly set out at paragraph's 2.03 to 2.08 of the "Financial Statement and Budget Report 1995–96". Minutes of the discussion at the Chancellor's monthly monetary meetings with the Governor of the Bank of England are also published. Movements in the exchange rate are considered as part of general assessments of monetary conditions in setting monetary policy. The Government recognise the value of a stable exchange rate but do not set target rates.