Economy: Alan Walters diary (budget) [expects rates to come down][released 2012]

Document type:	Declassified documents
Source:	Walters MSS (Churchill Archives Centre): WTRS3/1/1
Editorial comments:	Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking:	Major
Word count:	107
Themes:	Monetary policy

Wednesday 18th November 1981

Bills at 14/14½

If on M1 or exchange rate (some tightening needed)

Base rates hung up a bit - will come down

Uncovered differential = + gave from -3

Expecting Base Rates to come down.

Lunch with Yeua (Taiwan) at Bucks - oysters - talked about the MFA [Multi-Fibre Arrangement] - Taiwan, Hong Kong and Korea are being squeezed to increase India and poor countries. He said they auction quotas in Taiwan.

Dinner with S de la Cuadra, Miguel Kast at 21 VS [Victoria Street]

W. Goldsmith and JH [John Hoskyns] there - fascinated by labour laws.

Keith [Keith Joseph] had supply debate in H/C