Adjournment (Christmas)

Part of the debate – in the House of Commons at 5:09 pm on 19th December 1990.

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Photo of Mr Bowen Wells Mr Bowen Wells , Hertford and Stortford 5:09 pm, 19th December 1990

The point that I want to make was made by another central banker, Karl Otto Pal, who said that domestic interest rates should be established primarily in relation to the state of the domestic economy and not in accordance with or to sustain an exchange rate that might be selective. A central banker—one of the most powerful—agrees with my right hon. Friend.