Monetary Policy Committee

Lord Desai Excerpts

Wednesday 6th July 2011 Lords Chamber

[Lord Sassoon]

My Lords, I can confirm the first part of what the noble Lord, Lord Stern, says. What the Government will do is to stick to a very firm, clear deficit reduction plan as the background against which the Monetary Policy Committee can make its decisions with confidence.

[Lord Desai]

My Lords—

[Lord Maples]

My Lords, consumer price inflation is only one measure of inflation. May I suggest that if in the run-up to the crash the Monetary Policy Committee had been looking at asset price inflation—