Engagements

Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 12:00 am on 29 January 1991.

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Photo of Mr John Major Mr John Major , Huntingdon 12:00, 29 January 1991

When it is appropriate to reduce interest rates, people do so. I remind the right hon. Gentleman that he was urging us to join the exchange rate mechanism when the exchange rate was DM 2·95. We will reduce interest rates when it is appropriate to do so.