Interest Rates (Hansard, 29 January 1987)
HC Deb 29 January 1987 vol 109 c382W
34. Mr. Wrigglesworth

asked the Chancellor of the Exchequer by how much the current level of United Kingdom short-term interest rates exceeds the average for the other European Economic Community countries.

Mr. Ian Stewart

Three month interbank rates in London are about 11 per cent. The average of the three-month money market rates in other member states is around 10½per cent., on latest data.

35. Mr. Alton

asked the Chancellor of the Exchequer what recent representations he has received on the levels of interest rates; and if he will make a statement.

Mr. Ian Stewart

I have received a number of representations on this subject.

40. Mr. Marland

asked the Chancellor of the Exchequer what representations he has received on the present level of interest rates.

Mr. Ian Stewart

I refer to the answer I gave earlier to the hon. Member for Liverpool, Mossley Hill (Mr. Alton).

46. Mr. Rogers

asked the Chancellor of the Exchequer whether he will make a statement on the current level of interest rates.

Mr. Ian Stewart

Base rates are 11 per cent.

66. Mr. Austin Mitchell

asked the Chancellor of the Exchequer if he has any proposals for seeking to reduce interest rates.

Mr. Ian Stewart

Short-term interest rates will be held at whatever levels are necessary to keep steady downward pressure on inflation.

76. Mr. Livsey

asked the Chancellor of the Exchequer if he will give information available to him on the average level of real interest rates for the United States of America, Germany, Japan, France and the United Kingdom for the period from January 1984 to the present.

Mr. Ian Stewart

I refer the hon. Member to the article in last September's Bank of EnglandQuarterly Bulletin which discussed the difficulties involved in measuring real rates of interest, and considered recent trends.

GLOBAL ISLES COURT OF RECORD