§ Mr. TyrieTo ask the Chancellor of the Exchequer what is the reason for the division of responsibility for the management of foreign exchange reserves between the Bank of England and the Treasury. [3713]
§ Mrs. Liddell[holding answer 16 June 1997]: The purpose of the bank having its own separate pool of foreign exchange reserves to use at its discretion is to allow it to intervene in support of its monetary policy objective.