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Archive (Walters MSS)

Economy: Alan Walters diary (economy) [PM nervous over M1 figures; difficulties at PMQs over miserable economic prospects ][released 2012]

Document type: Declassified documents
Source: Walters MSS (Churchill Archives Centre): WTRS 3/1/2
Editorial comments: Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking: Major
Word count: 114
Themes: Economic policy - theory and process, Monetary policy

Tuesday 2nd February 1982

US interest rates shot up yesterday

PM say Treasury Note and is nervous in view of M1 2½% figures - but this is still well below trend.

Markets reacting very well to US money supply figures - stlg [sterling] appreciated on day to 91.9. Interest rates remained steady and even gilts recovered.

PS [Private Secretary] Lunch

Pym’s statement on miserable econ prospects caused PM some difficulty at Questions but she dealt with it very well.

Talk in City to IoD [Institute of Directors] - good response - all really on my side.

PM dining with Walter Salomon

Hayek, Axel Springer + PM - a historic meeting. Walter excellent host.