Inflation and Interest Rates

HC Deb 11 January 1996 vol 269 c300W

15. Sir Michael Neubert

To ask the Chancellor of the Exchequer what representations he had received following the December figures on inflation and interest rates. [7090]

Mrs. Angela Knight

We have received a number of representations welcoming lower interest rates and the best performance on inflation for almost 50 years.

19. Mr. Austin Mitchell

To ask the Chancellor of the Exchequer if he will make a statement on interest rates. [7094]

Mrs. Angela Knight

Interest rates were cut by ¼ per cent. to 6½ per cent. on 13 December. This cut in rates was appropriate and fully consistent with meeting the inflation target of 2½ per cent. or less.