Exchange Rates

HM Treasury written question – answered on 18th September 2017.

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Photo of Lord Lea of Crondall Lord Lea of Crondall Labour

To ask Her Majesty's Government what steps they are taking, if any, to ensure that the pound sterling does not fall below parity with the euro.

Photo of Lord Bates Lord Bates The Minister of State, Department for International Development

The UK has an inflation target, not an exchange rate target, and the government does not express a view on the level of the exchange rate. The value of sterling adjusts flexibly in response to economic conditions and market forces.

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