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Exchange Rate Policy

Treasury written question – answered on 30th October 2001.

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Photo of Austin Mitchell Austin Mitchell Labour, Great Grimsby

To ask the Chancellor of the Exchequer if he will make a statement on his exchange rate policy.

Photo of Ruth Kelly Ruth Kelly Economic Secretary, HM Treasury

The Government do not have a target for sterling, but a stable and competitive rate is sought over the medium term, consistent with the objective of price stability. The way to ensure long-term exchange rate stability is through the pursuit of sound macroeconomic policies aimed at achieving sustained growth and low inflation.

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