Britain suspended from ERM

Title

Britain suspended from ERM

Genre

Press conference; Speech

TX Date

16 Sep 1992

Year of production

1992

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Duration

00:01:02

Description

Statement by Chancellor Norman Lamont, announcing Britain’s membership of the European Exchange Rate Mechanism (ERM) has been suspended. The additional three percent rise in interest rates scheduled for tomorrow to help stop the slide of the value of the pound has also been halted, rates will remain at twelve percent.

Contributors

Norman Lamont

Keywords

UK; Exchange rates; Economic policy; Interest rates; Europe; Currencies; International monetary systems

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