Fixed Exchange Rates
§ 26. Mr. Michael Brown
To ask the Chancellor of the Exchequer what is his policy in respect of fixed exchange rates. 
§ Mrs. Angela Knight
The Government recognise the value of a stable exchange rate but do not have a target for sterling. The exchange rate is only one of many factors that has to be taken account of in policy decisions. Monetary policy is, and will continue to be, aimed at achieving the Government's inflation target of 22 per cent. or less.