Interest Rates

HC Deb 09 March 2000 vol 345 c816W

31. Mr. Butterfill

To ask the Chancellor of the Exchequer if it is his objective to harmonize Sterling interest rates with those of the euro-zone. [112249]

Miss Melanie Johnson

The Monetary Policy Committee sets UK interest rates at the level it considers necessary, in its best collective judgment, to keep inflation on track to meet the Government's inflation target. Similarly, the European Central Bank set interest rates to achieve their objective of maintaining price stability in the euro-area.