HC Deb 22 October 1998 vol 317 cc1202-3W
Mr. Maude

To ask the Chancellor of the Exchequer what assessment he has made of the impact on the market's perception of the independence of the Bank of England as regards UK interest rates of his statements on the level of UK interest rates. [55842]

Ms Hewitt

The Chancellor does not comment on the month to month decisions of the Bank of England's Monetary Policy Committee. Market expectations of inflation remain close to the inflation target and long-term interest rates are at the lowest levels in 35 years.

Mr. Maude

To ask the Chancellor of the Exchequer what discussions he had with the Governor of the Bank of England in the month prior to 8 October. [55840]

Ms Hewitt

The Chancellor has regular discussions with the Governor every month.

Dr. Cable

To ask the Chancellor of the Exchequer what recent discussions have taken place between the Treasury and the Bank of England on the circumstances in which action would be taken under section 19 of the Bank of England Act 1998 relating to emergency powers. [56349]

Ms Hewitt

The Chancellor has no plans to use the emergency powers under section 19 of the Bank of England Act 1998.