Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he is taking to tackle changes in the value of Pound Sterling against the United States Dollar; and if he will make a statement.

This question was answered on 18th October 2022
The UK does not have an exchange rate target and the Government does not have a desired level for sterling – the price is determined by the market. The UK's macroeconomic framework is based on an inflation target, and it is for the independent Monetary Policy Committee to set monetary policy to meet this target.

We continue to work closely with the Bank of England, Financial Conduct Authority, Debt Management Office and others to monitor markets.