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Monetary Policy Committee — Question

Part of the debate – in the House of Lords at 3:22 pm on 6th July 2011.

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Photo of Lord Higgins Lord Higgins Conservative 3:22 pm, 6th July 2011

Having not got an answer on the first Question, I shall try again. Would my noble friend agree that much of the problem is that the present inflation is imported rather than domestically generated, and that needs to be taken into account in making these decisions? None the less, the MPC also has responsibility for growth. Given the low rate of growth, and the low rate of growth in money supply, is there not a further case for more quantitative easing?