My Lords, while the operational independence of the Bank of England on monetary policy is of the first importance, would my noble friend consider saying gently to the governors that their authority would be greater and the effectiveness of monetary policy enhanced if they were to talk rather less about matters that are market sensitive?

My Lords, while the operational independence of the Bank of England on monetary policy is of the first importance, would my noble friend consider saying gently to the governors that their authority would be greater and the effectiveness of monetary policy enhanced if they were to talk rather less about matters that are market sensitive?

I support my noble friend the Minister in everything that he said and I greatly look forward to the court case which the noble Lord, Lord Peston, is about to bring against the Bank of England. I am sure that that will give us great entertainment value. Is my noble friend aware that to jettison the inflation target at this time or at any other time would mean a loss of financial market credibility and a loss of political credibility for no gain whatever?

I support my noble friend the Minister in everything that he said and I greatly look forward to the court case which the noble Lord, Lord Peston, is about to bring against the Bank of England. I am sure that that will give us great entertainment value. Is my noble friend aware that to jettison the inflation target at this time or at any other time would mean a loss of financial market credibility and a loss of political credibility for no gain whatever?

My Lords, the noble Baroness can afford it.

My Lords, the noble Baroness can afford it.

My Lords, the noble Lord, Lord McNally, is right that we do not need to worry about global warming. He will see why if he reads the book that I have written, which comes out in about three weeks’ time; I hope that with his characteristic open-mindedness he will read...

My Lords, the noble Lord, Lord McNally, is right that we do not need to worry about global warming. He will see why if he reads the book that I have written, which comes out in about three weeks’ time; I hope that with his characteristic open-mindedness he will read...

If HMGovt will publish a table showing for each half year from first half of 1973 to second half of 1992 inclusive: annual rate of growth of UK gross domestic product; annual rate of inflation measured in terms of Retail Prices Index excluding mortgage interest payments & annual rate of...

If HMGovt will publish a table showing for each half year from first half of 1973 to second half of 1992 inclusive: annual rate of growth of UK gross domestic product; annual rate of inflation measured in terms of Retail Prices Index excluding mortgage interest payments & annual rate of...

What was the average underlying rate of inflation, defined in terms of the RPI excluding mortgage interest payments, between June 1985 and October 1991. - Inc figure.

What was the average underlying rate of inflation, defined in terms of the RPI excluding mortgage interest payments, between June 1985 and October 1991. - Inc figure.

If he will publish a table showing, for each financial year from 1979-80 to 1989-90, inclusive, the amount of overfunding in (a) #M3 terms and (b) #M4 terms. (Holding answer 14 Oct 91).

If he will publish a table showing, for each financial year from 1979-80 to 1989-90, inclusive, the amount of overfunding in (a) #M3 terms and (b) #M4 terms. (Holding answer 14 Oct 91).

If he will publish a table showing, for each quarter from the first quarter of 1979 to the first quarter of 1991, the annual percentage increase on the following indices: the retail price index, the retail price index excluding mortgage interest payments, the retail price index excluding mortgage interest payments,...

If he will publish a table showing, for each quarter from the first quarter of 1979 to the first quarter of 1991, the annual percentage increase on the following indices: the retail price index, the retail price index excluding mortgage interest payments, the retail price index excluding mortgage interest payments,...

What has been the fall in inflation between 1979 and 1990 (a) in the United Kingdom and (b) in the G7 as a whole, calculating United Kingdom inflation in terms of the underlying rate in each case. - Inc figures. (Holding answer 25 Mar 91).

What has been the fall in inflation between 1979 and 1990 (a) in the United Kingdom and (b) in the G7 as a whole, calculating United Kingdom inflation in terms of the underlying rate in each case. - Inc figures. (Holding answer 25 Mar 91).

What was the average annual underlying rate of United Kingdom inflation for the periods (a) from July 1983 to October 1989 inclusive, (b) from July 1984 to October 1990 inclusive, (c) from July 1985 to October 1991 inclusive, using as a proxy for October 1991 the forecast for the fourth...

What was the average annual underlying rate of United Kingdom inflation for the periods (a) from July 1983 to October 1989 inclusive, (b) from July 1984 to October 1990 inclusive, (c) from July 1985 to October 1991 inclusive, using as a proxy for October 1991 the forecast for the fourth...

If he will provide a table for each year from 1970 to 1990 inclusive, showing (a) the average underlying rate of inflation in the United Kingdom, (b) the average rate of inflation in the United States and (c) the amount by which underlying United Kingdom inflation exceeds United States inflation....

If he will provide a table for each year from 1970 to 1990 inclusive, showing (a) the average underlying rate of inflation in the United Kingdom, (b) the average rate of inflation in the United States and (c) the amount by which underlying United Kingdom inflation exceeds United States inflation....

To give current average rate of inflation in Group of Seven countries - (Failed OPQ)

To give current average rate of inflation in Group of Seven countries - (Failed OPQ)

What is current rate of inflation; & what it was 12 months ago. (Failed OPQ).

What is current rate of inflation; & what it was 12 months ago. (Failed OPQ).