Exchange Rates
(asked on 24th October 2016) - View Source
Question to the HM Treasury:
To ask Her Majesty’s Government what is their assessment of the recent fall in the value of sterling.
This question was answered on 2nd November 2016
The UK has an inflation target, not an exchange rate target. The value of sterling adjusts flexibly in response to economic conditions and market forces.
We are going through a period of adjustment as the economy responds to the vote to leave the European Union. The fundamental strength of the UK economy means that it is well-placed to deal with the challenges, and take advantage of the opportunities, that lie ahead.