Tuesday 15th June 1982
Back to London - miss E at 10.45 on YTC - but Ferdy went [Ferdinand Mount]
Tim Congdon
Chancellors meeting on Overfunding, Deep dissent [word unclear] etc. - Agreed not to overfund as a general rule - but only when M1 + M3 were clearly over running - one more move away from £M3.
- Meeting with Bank tomorrow
Interest Rate Mtg with Bank/Treasury
Agreed to go down by ½% point - Bank reluctant, finding “technical” reasons for slow growth of M1 M0 etc.
- Memo to PM