HC Deb 02 March 1998 vol 307 c453W
Mr. Mitchell

To ask the Chancellor of the Exchequer if he will review methods of controlling and managing credit by means other than interest rates. [31030]

Mrs. Liddell

The Bank of England's official repo rate is the best instrument for controlling credit for the purposes of meeting the Government's inflation target. The Monetary Policy Committee (MPC) considered alternative monetary policy instruments in August 1997 (as shown in the published MPC minutes), and rejected their use.