Wednesday 16th December 1981
Middleton - says £ stronger and interest rates moving down - he agrees to write memo to C/E [Chancellor of the Exchequer] recommending that they engineer a ½% by Christmas
Sebag lunch and Michael Boyd Carpenter rather depressed by election chances.
Wass and B/E (George, McMahon) - Bank want to stop auction system - argue that it depresses the prices - Wass seemed persuaded but we offered one more auction.
Graham Hutton for dinner