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Exchange Rates

Question for HM Treasury

UIN HL2646, tabled on 25 October 2016

To ask Her Majesty’s Government what assessment they have made of the impact of the volatility of sterling on savers, pensioners and other investments generally.

Answered on

3 November 2016

The Government does not have a target for the sterling exchange rate and does not comment on currency movements. Instead the exchange rate is allowed to adjust flexibly in response to economic conditions, and movements in sterling are determined by 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. The Government is working hard to lay the foundations for stable long term growth which will benefit savers, pensioners and all other groups.

Answered by

Treasury
Interests declared
The Member has declared that they have interests which may be relevant to the subject matter of this question.