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